| Schedule of Long-term Debt |
Long-term debt as of September 30, 2023 and 2022 consisted of the following (in $000’s):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2023 |
|
September 30,
2022 |
| Revolver loans |
$ |
56,779 |
|
|
$ |
43,107 |
|
| Equipment loans |
15,486 |
|
|
13,716 |
|
| Term loans |
14,290 |
|
|
7,941 |
|
Other long-term debt |
15,789 |
|
|
14,501 |
|
Total long-term debt |
102,344 |
|
|
79,265 |
|
| Less: unamortized debt issuance costs |
(557) |
|
|
(626) |
|
| Net amount |
101,787 |
|
|
78,639 |
|
| Less: current portion |
(23,077) |
|
|
(18,935) |
|
Total long-term debt, net of current portion |
$ |
78,710 |
|
|
$ |
59,704 |
|
Seller notes as of September 30, 2023 and 2022 consisted of the following (in $000’s):
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|
|
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|
September 30,
2023 |
|
September 30,
2022 |
Seller of Flooring Liquidators, 8.24% interest rate, matures January 2028 |
$ |
34,000 |
|
|
$ |
— |
|
Seller of PMW, 8.0% interest rate, matures July 2028 |
2,500 |
|
|
— |
|
Seller of Kinetic, 7.0% interest rate, matures September 2027 |
3,000 |
|
|
3,000 |
|
| Total Seller notes payable - related parties |
39,500 |
|
|
3,000 |
|
| Less: unamortized debt issuance costs |
(502) |
|
|
— |
|
| Net amount |
38,998 |
|
|
3,000 |
|
| Less current portion |
— |
|
|
— |
|
| Long-term portion of Seller notes - related parties |
$ |
38,998 |
|
|
$ |
3,000 |
|
|
| Schedule of Future Maturities of Long-term Debt |
Future maturities of long-term debt at September 30, 2023 are as follows excluding related party debt (in $000’s):
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|
|
|
|
|
| Years ending September 30, |
|
| 2024 |
$ |
23,077 |
|
| 2025 |
6,010 |
|
| 2026 |
28,265 |
|
| 2027 |
32,730 |
|
| 2028 |
1,287 |
|
| Thereafter |
10,418 |
|
| Total |
$ |
101,787 |
|
Future maturities of seller notes at September 30, 2023 are as follows (in $000’s):
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|
|
|
|
| Years ending September 30, |
|
|
|
|
|
| 2026 |
500 |
|
| 2027 |
3,500 |
|
| 2028 |
34,998 |
|
|
|
| Total |
$ |
38,998 |
|
|
| Schedule of Bank Revolver |
The following tables summarize the BofA Revolver for the years ended and as of September 30, 2023 and 2022, respectively (in $000’s):
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|
|
|
|
|
|
|
|
|
|
|
During the year ended September 30, |
|
2023 |
|
2022 |
| Cumulative borrowing during the period |
$ |
118,865 |
|
|
$ |
148,015 |
|
| Cumulative repayment during the period |
122,907 |
|
|
136,928 |
|
| Maximum borrowed during the period |
12,648 |
|
|
11,210 |
|
| Weighted average interest for the period |
6.87 |
% |
|
3.68 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, |
|
2023 |
|
2022 |
| Total availability |
$ |
14,904 |
|
|
$ |
13,804 |
|
| Total outstanding |
6,101 |
|
|
10,143 |
|
The following tables summarize the Encina Revolver Loans as of and for the years ended September 30, 2023 and 2022 (in $000’s):
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|
|
|
|
|
|
|
|
|
|
|
|
|
During the year ended September 30, |
|
|
2023 |
|
2022 |
| Cumulative borrowing during the period |
|
$ |
— |
|
|
$ |
18,812 |
|
| Cumulative repayment during the period |
|
— |
|
|
31,547 |
|
| Maximum borrowed during the period |
|
— |
|
|
2,000 |
|
| Weighted average interest for the period |
|
— |
% |
|
6.50 |
% |
The following tables summarize the Precision Marshall Fifth Third Bank Revolver Loan as of and for the years ended September 30, 2023 and 2022 (in $000’s):
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|
|
|
|
|
|
|
|
|
|
|
During the year ended September 30, |
|
2023 |
|
2022 |
| Cumulative borrowing during the period |
$ |
72,336 |
|
|
$ |
61,745 |
|
| Cumulative repayment during the period |
69,707 |
|
|
38,172 |
|
| Maximum borrowed during the period |
1,700 |
|
|
12,937 |
|
| Weighted average interest for the period |
7.85 |
% |
|
4.64 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, |
|
2023 |
|
2022 |
| Total availability |
$ |
5,959 |
|
|
$ |
4,900 |
|
| Total outstanding |
26,202 |
|
|
23,573 |
|
The following tables summarize the TCB Revolver as of and for the years ended September 30, 2023 and 2022 (in $000's):
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|
|
|
|
|
|
|
|
|
During the year ended September 30, |
|
2023 |
|
2022 |
| Cumulative borrowing during the period |
$ |
73,074 |
|
|
$ |
86,390 |
|
| Cumulative repayment during the period |
77,195 |
|
|
85,794 |
|
| Maximum borrowed during the period |
11,146 |
|
|
2,425 |
|
| Weighted average interest for the period |
7.50 |
% |
|
3.26 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, |
|
2023 |
|
2022 |
| Total availability |
$ |
6,526 |
|
|
$ |
1,707 |
|
| Total outstanding |
5,270 |
|
|
9,391 |
|
The following tables summarize the Eclipse Revolver as of and for the years ended September 30, 2023 and 2022 (in $000's):
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|
|
|
|
|
|
|
|
|
|
|
During the year ended September 30, |
|
2023 |
|
2022 |
| Cumulative borrowing during the period |
$ |
41,545 |
|
|
$ |
— |
|
| Cumulative repayment during the period |
46,710 |
|
|
— |
|
| Maximum borrowed during the period |
13,396 |
|
|
— |
|
| Weighted average interest for the period |
9.80 |
% |
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, |
|
2023 |
|
2022 |
| Total availability |
$ |
1,558 |
|
|
$ |
— |
|
| Total outstanding |
8,230 |
|
|
— |
|
The following tables summarize the PMW Fifth-Third Bank Revolver as of and for the years ended September 30, 2023 and 2022 (in $000's):
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|
|
|
|
|
|
|
|
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|
During the year ended September 30, |
|
2023 |
|
2022 |
| Cumulative borrowing during the period |
$ |
16,294 |
|
|
$ |
— |
|
| Cumulative repayment during the period |
14,258 |
|
|
— |
|
| Maximum borrowed during the period |
13,327 |
|
|
— |
|
| Weighted average interest for the period |
8.46 |
% |
|
— |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, |
|
2023 |
|
2022 |
| Total availability |
$ |
3,818 |
|
|
$ |
— |
|
| Total outstanding |
10,975 |
|
|
— |
|
|