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Long-Term Debt (Tables)

12 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt as of September 30, 2024 and 2023 consisted of the following (in $000’s):

			September 30, 2024						September 30, 2023
Revolver loans			$	60,199					$	56,779
Equipment loans			13,346						15,486
Term loans			10,465						14,290
Other long-term debt			15,227						15,789
Total long-term debt			99,237						102,344
Less: unamortized debt issuance costs			(427)						(557)
Net amount			98,810						101,787
Less: current portion			(43,816)						(23,077)
Total long-term debt, net of current portion			$	54,994					$	78,710

Seller notes as of September 30, 2024 and 2023 consisted of the following (in $000’s):

			September 30, 2024						September 30, 2023
Seller of Flooring Liquidators, 8.24% interest rate, matures January 2028			$	34,000					$	34,000
Seller of PMW, 8.0% interest rate, matures July 2028			2,500						2,500
Seller of Kinetic, 7.0% interest rate, matures September 2027			3,000						3,000
Seller of Central Steel, 8.0% interest rate, matures May 2029			1,100						—
Total Seller notes payable - related parties			40,600						39,500
Unamortized debt premium (discount)			2,261						(502)
Net amount			42,861						38,998
Less current portion			(2,500)						—
Long-term portion of Seller notes - related parties			$	40,361					$	38,998

Schedule of Future Maturities of Long-term Debt

Future maturities of long-term debt at September 30, 2024 are as follows excluding related party debt (in $000’s):

Years ending September 30,
2025			$	43,816
2026			15,012
2027			28,122
2028			1,362
2029			1,229
Thereafter			9,269
Total			$	98,810

Future maturities of seller notes at September 30, 2024 are as follows (in $000’s):

Years ending September 30,
2025			$	2,500
2027			3,000
2028			36,261
2029			1,100
Total			$	42,861

Schedule of Fixed Coverage Ratio

Level						Fixed Charge Coverage Ratio						Term SOFR Revolver Loan						Base Rate Revolver Loan
I						<1.20 to 1.00						2.50%						1.50%
II						>1.20 to 1.00 but <1.50 to 1.00						2.25%						1.25%
III						>1.50 to 1.00 but <1.75 to 1.00						2.00%						1.00%
IV						>1.75 to 1.00						1.75%						0.75%

Schedule of Bank Revolver

The following tables summarize the BofA Revolver for the years ended and as of September 30, 2024 and 2023, respectively (in $000’s):

			During the year ended September 30,
			2024						2023
Cumulative borrowing during the period			$	140,810					$	118,865
Cumulative repayment during the period			129,298						122,907
Maximum borrowed during the period			18,776						12,648
Weighted average interest for the period			7.87		%				6.87		%

			As of September 30,
			2024						2023
Total availability			$	7,298					$	14,904
Total outstanding			17,614						6,101

The following tables summarize the Precision Marshall Fifth Third Bank Revolver Loan as of and for the years ended September 30, 2024 and 2023 (in $000’s):

			During the year ended September 30,
			2024						2023
Cumulative borrowing during the period			$	66,134					$	72,336
Cumulative repayment during the period			71,017						69,707
Maximum borrowed during the period			1,700						1,700
Weighted average interest for the period			8.46		%				7.85		%

			As of September 30,
			2024						2023
Total availability			$	6,508					$	5,959
Total outstanding			21,319						26,202

The following tables summarize the TCB Revolver as of and for the years ended September 30, 2024 and 2023 (in $000's):

			During the year ended September 30,
			2024						2023
Cumulative borrowing during the period			$	4,889					$	73,074
Cumulative repayment during the period			10,159						77,195
Maximum borrowed during the period			9,048						11,146
Weighted average interest for the period			7.57		%				7.50		%

			As of September 30,
			2024						2023
Total availability			$	—					$	6,526
Total outstanding			—						5,270

The following tables summarize the Eclipse Revolver as of and for the years ended September 30, 2024 and 2023 (in $000's):

			During the year ended September 30,
			2024						2023
Cumulative borrowing during the period			$	138,632					$	41,545
Cumulative repayment during the period			137,587						46,710
Maximum borrowed during the period			10,700						13,396
Weighted average interest for the period			11.72		%				9.80		%

			As of September 30,
			2024						2023
Total availability			$	960					$	1,558
Total outstanding			9,276						8,230

The following tables summarize the PMW Fifth-Third Bank Revolver as of and for the years ended September 30, 2024 and 2023 (in $000's):

			During the year ended September 30,
			2024						2023
Cumulative borrowing during the period			$	72,501					$	16,294
Cumulative repayment during the period			73,364						14,258
Maximum borrowed during the period			13,318						13,327
Weighted average interest for the period			8.50		%				8.46		%

			As of September 30,
			2024						2023
Total availability			$	1,078					$	3,818
Total outstanding			10,112						10,975

The following tables summarize the Bank Midwest Revolver as of and for the years ended September 30, 2024 and 2023 (in $000's):

			During the year ended September 30,
			2024						2023
Cumulative borrowing during the period			$	32,560					$	—
Cumulative repayment during the period			$	30,682					$	—
Maximum borrowed during the period			$	9,778					$	—
Weighted average interest for the period			7.70		%				—		%

			As of September 30,
			2024						2023
Total availability			$	10,423					$	—
Total outstanding			$	1,878					$	—

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-Topic 210
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