SCHAUMBURG, Ill., July 01, 2025 — Ascent Industries Co. (Nasdaq: ACNT) (“Ascent” or the “Company”) today announced the successful closing of the previously announced sale of American Stainless Tubing, LLC (“ASTI”) to First Tube, LLC, a wholly owned subsidiary of Triple-S Steel Holdings, Inc. for $16 million in an all-cash transaction, subject to customary closing conditions.
“The sale of ASTI, our final operating tubular asset, is more than a milestone — it’s a defining moment in Ascent’s transformation” said Bryan Kitchen, President and Chief Executive Officer of Ascent. “We are now a pure-play specialty chemicals company, fully aligned with our vision to build a scalable, high-margin chemicals platform poised for sustainable value creation. With this additional capital, we are well-positioned to reinvest in innovation, expand commercial reach, and pursue new growth opportunities that enhance returns for shareholders.”
We are confident that Triple-S will be an excellent steward of ASTI’s strong talent and capabilities.
Angle Advisors served as financial advisor and Amundsen Davis, LLC served as legal advisor to Ascent.