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Subsequent Event
3 Months Ended
Mar. 30, 2013
Subsequent Event [Abstract]  
Subsequent Event
13.         Subsequent Events
 
Acquisitions
 
On April 12, 2013, the Company acquired all the outstanding stock of Companhia Brasileira de Tecnologia Industrial (CBTI) for Brazilian reals (BRL) 16,046,000 in cash, or approximately $8,100,000. CBTI is a long-time licensee of the Company's doctoring, cleaning, and filtration, and stock-preparation products and is also a supplier of industrial drying systems. This acquisition enhances the Company's strategy of expanding its presence in emerging markets. At the closing date, approximately BRL 7,000,000, or $3,500,000, of the purchase price was deposited into an escrow fund to secure certain indemnification obligations of the sellers. Approximately BRL 3,000,000, or $1,500,000, of the escrow fund will be released to the sellers on or about January 31, 2014, and the balance will be released on various dates over a five-year period ending on the fifth anniversary of the closing date, less the amount of any claims in each instance.
 
On May 3, 2013, the Company acquired certain assets of the Noss Group (Noss), a Sweden-based developer and supplier of high-efficiency cleaners and approach flow systems, for Euros (EUR) 6,000,000 in cash, or approximately $7,900,000. This acquisition will expand the Company's product offerings in its Stock-Preparation product line, particularly for virgin pulp and approach flow applications. In addition, Noss has a large installed base and a high proportion of its revenues are parts and consumables products. At the closing date, approximately EUR 900,000 of the purchase price was retained to fund certain anticipated redundancy payments in Sweden and EUR 1,500,000 of the purchase price was deposited into an escrow fund to secure certain indemnification obligations of the sellers. The escrow fund, less any claims made, will be released to the sellers in two installments on the first and second anniversaries of the closing date.
 
Revolving Credit Facility
 
Subsequent to the end of the first quarter of 2013, the Company borrowed approximately $10,000,000 from available funds under its revolving credit facility as permitted in the 2012 Credit Agreement, which was used primarily to fund the acquisitions of CBTI and Noss.