Ascent Industries Co. announced on March 12, 2025, that it has reached a definitive agreement to sell substantially all of the assets of Bristol Metals, LLC (BRISMET) to Ta Chen International, Inc. The all-cash transaction is valued at approximately $45 million.
BRISMET has been a leader in stainless, duplex, super duplex, 6 moly, and nickel alloy welded steel pipe manufacturing since 1964. The transaction is planned to close on March 31, 2025, marking a significant step in Ascent's strategic portfolio realignment.
Proceeds from the sale are intended to accelerate organic and inorganic growth within Ascent's Specialty Chemicals business, as well as for general corporate purposes. Bryan Kitchen, President and CEO, stated that this transaction provides additional capital to pursue growth opportunities in the Specialty Chemicals segment and is a value-creating outcome for shareholders. Following this sale, Ascent's remaining tubular asset will be American Stainless Tubing (ASTI).
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