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Debt (Tables)
12 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Amounts borrowed under credit agreement

The following amounts were borrowed under the credit agreement:

 

Borrowing proceeds on August 7, 2014

 

Currency
Borrowed

 

 

US
Dollars

 

US Term Loan

 

$

50,000

  

 

$

50,000

  

US Revolving Note

 

C$

15,000

 

 

 

13,695

 

Europe Term Loan

 

20,000

 

 

 

26,730

 

 

Summary of Company's Debt

The following table summarizes the Company’s debt at December 31, 2014.

 

 

Interest
Rate

 

 

Principal
Balance

 

Credit Agreement:

 

 

 

 

 

 

 

US Term Loan

 

2.00

%

 

$

49,375

 

Europe Term Loan

 

1.81

%

 

 

23,963

 

US Revolving Note

 

1.92

%

 

 

12,000

 

DEG Loan

 

4.25

%

 

 

4,805

 

Capital lease

 

4.20

%

 

 

632

 

Total debt

 

 

 

 

$

90,775

 

Current portion

 

 

 

 

 

(5,306

)

Long-term debt, less current maturities

 

 

 

 

$

85,469

 

 

The following table summarizes the Company’s debt at December 31, 2013.

 

 

Interest
Rate

 

 

Principal
Balance

 

Old Credit Agreements:

 

 

 

 

 

 

 

US Term Note

 

2.50

%

 

 

24,500

 

Europe Term Note

 

2.49

%

 

 

38,899

 

W.E.T. Term Note

 

2.01

%

 

 

10,920

 

DEG Loan

 

4.25

%

 

 

5,561

 

Capital lease

 

4.20

%

 

 

2,440

 

Total debt

 

 

 

 

 

82,320

 

Current portion

 

 

 

 

 

(21,439

)

Long-term debt, less current maturities

 

 

 

 

$

60,881

 

 

Principal Maturities of Debt

The scheduled principal maturities of our debt as of December 31, 2014 is as follows:

 

Year

 

US
Term
Loan

 

 

Europe
Term Loan

 

 

U.S.
Revolving
Note

 

 

DEG Loan

 

 

Capital
Lease

 

 

Total

  

2015

 

$

2,500

 

 

$

1,213

 

 

$

 

 

$

961

 

 

$

632

 

 

$

5,306

 

2016

 

 

2,812

 

 

 

1,365

 

 

 

 

 

 

961

 

 

 

 

 

 

5,138

 

2017

 

 

3,750

 

 

 

1,820

 

 

 

 

 

 

961

 

 

 

 

 

 

6,531

 

2018

 

 

4,063

 

 

 

1,972

 

 

 

 

 

 

961

 

 

 

 

 

 

6,996

 

2019

 

 

36,250

 

 

 

17,593

 

 

 

12,000

 

 

 

961

 

 

 

 

 

 

66,804

 

Total

 

$

49,375

 

 

$

23,963

 

 

$

12,000

 

 

$

4,805

 

 

$

632

 

 

$

90,775