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Short-Term Borrowings and Long-Term Debt (Tables) | 12 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | The below table summarizes the Company’s long-term debt.
|  | September 30, 2024 |
|  | (Amounts in thousands) |
Mortgage facility payable to Flagship Bank bearing interest at 7.00% (prime minus 100 basis points with a floor of 2.00%). Requires monthly principal and interest payments with a balloon payment of approximately $4.0 million due August 2027. |  | $ | 5,411 |
Mortgage facility payable to Seacoast National Bank bearing interest at 7.09% (SOFR plus 220 basis points). Requires monthly interest payments for the first year and then monthly principal and interest payments with a balloon payment of approximately $10.0 million due September 2031. |  |  | 15,378 |
Mortgage facility payable to Hancock Whitney Bank bearing interest at 7.38% (prime minus 62.5 basis points with a floor of 2.25%). Requires monthly principal and interest payments with a balloon payment of approximately $15.5 million due November 2027. 50% of the outstanding borrowings are hedged with an interest rate swap contract with a fixed rate of 3.20%. |  |  | 21,366 |
Revolving mortgage facility with FineMark National Bank & Trust bearing interest at 7.75% (prime minus 25 basis points with a floor of 3.00%). Facility matures in October 2027. Current available borrowings under the facility were approximately $21.0 million at September 30, 2024. |  |  | — |
Term loan payable to M&T Bank bearing interest at 6.67%. Requires quarterly principal and interest payments. Facility matures in August 2027. |  |  | 347,500 |
Loan payable to TRANSPORT S.a.s di Taula Vittorio & C. bearing interest at 7.21%. Requires quarterly principal and interest payments. Facility matures in December 2030. |  |  | 1,531 |
Total long-term debt |  |  | 391,186 |
Less: current portion |  |  | (33,766 | )
Less: unamortized portion of debt issuance costs |  |  | (1,514 | )
Long-term debt, net current portion and unamortized debt issuance costs |  | $ | 355,906 |
|  | September 30, 2023 |
|  | (Amounts in thousands) |
Mortgage facility payable to Flagship Bank bearing interest at 7.50% (prime minus 100 basis points with a floor of 2.00%). Requires monthly principal and interest payments with a balloon payment of approximately $4.0 million due August 2027. |  | $ | 5,907 |
Mortgage facility payable to Seacoast National Bank bearing interest at 7.88% (SOFR plus 220 basis points). Requires monthly interest payments for the first year and then monthly principal and interest payments with a balloon payment of approximately $10.0 million due September 2031. |  |  | 16,735 |
Mortgage facility payable to Hancock Whitney Bank bearing interest at 7.88% (prime minus 62.5 basis points with a floor of 2.25%). Requires monthly principal and interest payments with a balloon payment of approximately $15.5 million due November 2027. 50% of the outstanding borrowings are hedged with an interest rate swap contract with a fixed rate of 3.20%. |  |  | 23,279 |
Revolving mortgage facility with FineMark National Bank & Trust bearing interest at 8.25% (prime minus 25 basis points with a floor of 3.00%). Facility matures in October 2027. Current available borrowings under the facility were approximately $22.7 million at September 30, 2023. |  |  | — |
Term loan payable to M&T Bank bearing interest at 6.83%. Requires quarterly principal and interest payments. Facility matures in August 2027. |  |  | 377,500 |
Loan payable to TRANSPORT S.a.s di Taula Vittorio & C. bearing interest at 7.08%. Requires quarterly principal and interest payments. Facility matures in December 2030. |  |  | 1,478 |
Total long-term debt |  |  | 424,899 |
Less: current portion |  |  | (33,767 | )
Less: unamortized portion of debt issuance costs |  |  | (1,901 | )
Long-term debt, net current portion and unamortized debt issuance costs |  | $ | 389,231 |
Summary of Aggregate Maturities of Long Term Debt | As of September 30, 2024, the aggregate maturities of long-term debt by fiscal year are summarized as follows:
|  | (Amounts in thousands) |
2025 |  | $ | 33,766 |
2026 |  |  | 33,766 |
2027 |  |  | 295,191 |
2028 |  |  | 16,983 |
2029 |  |  | 1,357 |
Thereafter |  |  | 10,123 |
Total long-term debt |  | $ | 391,186 |

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