Ascent Industries Co. announced on April 4, 2025, the successful closing of the previously announced sale of substantially all of the assets of Bristol Metals, LLC (BRISMET). The transaction was completed with Ta Chen International, Inc. for approximately $45 million in an all-cash transaction.
The proceeds from this divestiture will be deployed to advance both organic and inorganic growth initiatives within Ascent's Specialty Chemicals segment. These funds are also designated for general corporate purposes, with a focus on enhancing returns on invested capital and creating shareholder value.
Bryan Kitchen, President and CEO of Ascent, stated that the completion of the BRISMET sale is an important milestone for the company. This transaction unlocks meaningful value for shareholders and allows Ascent to focus its resources on expanding its Specialty Chemicals business, where significant growth opportunities are identified. Following this transaction, American Stainless Tubing, Inc. (ASTI) remains the sole asset in Ascent's Tubular Products segment.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.