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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill / Tradename |
(table only in thousands) |  | Engineered Systems segment |  |  | Industrial Process Solutions s egment |  |  | Totals |
Balance of goodwill at December 31, 2022 |  | $ | 114,746 |  |  | $ | 68,451 |  |  | $ | 183,197 |
Acquisitions |  |  | 27,152 |  |  |  | — |  |  |  | 27,152 |
Foreign currency translation |  |  | 331 |  |  |  | 646 |  |  |  | 977 |
Balance of goodwill at December 31, 2023 |  |  | 142,229 |  |  |  | 69,097 |  |  |  | 211,326 |
Acquisitions |  |  | 110 |  |  |  | 59,005 |  |  |  | 59,115 |
Foreign currency translation |  |  | (596 | ) |  |  | (98 | ) |  |  | (694 | )
Balance of goodwill at December 31, 2024 |  | $ | 141,743 |  |  | $ | 128,004 |  |  | $ | 269,747 |
The Company’s indefinite lived intangible assets as of December 31, 2024 and 2023 consisted of the following:
|  | Tradenames |
(table only in thousands) |  | 2024 |  |  | 2023 |
Balance beginning of year |  | $ | 9,570 |  |  | $ | 9,508 |
Foreign currency adjustments |  |  | (104 | ) |  |  | 62 |
Balance end of year |  | $ | 9,466 |  |  | $ | 9,570 |
Intangible Assets - Finite Life | The Company’s finite lived intangible assets consisted of the following:
|  | December 31, |
|  | 2024 |  |  | 2023 |
(table only in thousands) Intangible assets – finite life |  | Cost |  |  | Accum. Amort. |  |  | Cost |  |  | Accum. Amort. |
Technology |  | $ | 20,614 |  |  | $ | 14,769 |  |  | $ | 16,517 |  |  | $ | 14,061 |
Customer lists |  |  | 127,354 |  |  |  | 70,045 |  |  |  | 103,471 |  |  |  | 63,420 |
Tradenames |  |  | 18,530 |  |  |  | 6,392 |  |  |  | 14,094 |  |  |  | 5,001 |
Foreign currency adjustments |  |  | (2,770 | ) |  |  | (1,528 | ) |  |  | (1,083 | ) |  |  | 56 |
Total finite life intangible assets |  | $ | 163,728 |  |  | $ | 89,678 |  |  | $ | 132,999 |  |  | $ | 82,538 |

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
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