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Senior debt (Tables)
12 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Summary of Debt

Debt consisted of the following at December 31, 2014 and 2013:

 

(Table only in thousands)    December 31,
2014
     December 31,
2013
 

Outstanding borrowings under Credit Facility (defined below). Term loan payable in quarterly principal installments of $2.2 million through September 2016, $2.8 million through September 2017, and $3.3 million thereafter with balance due upon maturity in August 2018.

     

– Term loan

   $ 90,072       $ 63,781   

– U.S. Dollar revolving loans

     24,000         22,000   

– Multi-currency revolving loans

     —           —     

– Unamortized debt discount

     (1,796      (1,918
  

 

 

    

 

 

 

Total outstanding borrowings under Credit Facility

     112,276         83,863   

Outstanding borrowings under Canadian dollar-denominated Flextor Facility (defined below)

     —           —     

Outstanding borrowings (U.S. dollar equivalent) under Aarding Facility (defined below)

     —           4,909   

Outstanding borrowings (U.S. dollar equivalent) under Euro-denominated note payable to a bank, payable in quarterly installments of €25,000 ($30,000 as of December 31, 2014), plus interest, at a fixed rate of 3.82%, maturing January 2016. Collateralized by the Heerenveen, Netherlands building.

     152         310   
  

 

 

    

 

 

 

Total outstanding borrowings

   $ 112,428       $ 89,082   

Less: current portion

     8,887         9,922   
  

 

 

    

 

 

 

Total debt, less current portion

   $ 103,541       $ 79,160