Ascent Exits Tubing Sector with $16 Million Sale of American Stainless Tubing

Ascent Industries Co. has announced the divestiture of its tubular operations with the sale of substantially all assets of American Stainless Tubing, LLC (ASTI) to First Tube, LLC, a subsidiary of Triple-S Steel Holdings, Inc., for approximately $16 million in cash. The transaction is expected to close on June 30, 2025, subject to customary conditions.

Located in North Carolina, ASTI is known for its high-quality ornamental stainless-steel tubing and serves a broad spectrum of end markets. The sale marks Ascent’s final step in phasing out its tube and tubing segment, following a series of strategic divestitures over the past 18 months.

“This transaction signifies the conclusion of our involvement in the tubing industry,” said Bryan Kitchen, President and CEO of Ascent. “While we’re proud of what ASTI achieved under our ownership, this move allows us to dedicate all resources to our high-margin specialty chemicals business.”

ASTI is expected to benefit from the backing of First Tube, LLC, which brings complementary strengths and a shared vision for future growth in the tubing market.

The proceeds from the sale will support both organic expansion and acquisition efforts within Ascent’s specialty chemicals segment, as well as general corporate initiatives.

Angle Advisors acted as exclusive financial advisor, and Amundsen Davis, LLC provided legal counsel to Ascent.