Ascent Industries Sells Tubular Subsidiary BRISMET – Future Focus on Specialty Chemicals

Ascent Industries Co. (Nasdaq: ACNT), an industrial company focused on specialty chemicals and industrial tubular products, has successfully completed the sale of substantially all assets of its subsidiary Bristol Metals, LLC (BRISMET). The buyer, Ta Chen International, Inc., is a globally active manufacturer and distributor of stainless steel and aluminum products. The purchase price of approximately $45 million was paid entirely in cash.

The proceeds from the sale will be reinvested in both organic and inorganic growth initiatives within the Specialty Chemicals segment. In addition, the funds will support general corporate objectives, with the aim of enhancing return on capital and creating long-term shareholder value.

“We are pleased to have successfully completed the BRISMET transaction. It marks a significant milestone for Ascent,” said Bryan Kitchen, President and CEO of Ascent. “The sale frees up capital that we intend to deploy to further expand our Specialty Chemicals business, where we see strong growth potential. At the same time, we believe BRISMET is well positioned for continued success under Ta Chen’s leadership.”

Following the transaction, the only remaining entity in Ascent’s Tubular Products segment will be American Stainless Tubing, Inc. (ASTI), a leading producer of premium ornamental stainless steel tubing.