Ascent Industries sells ASTI for $16M cash, finalizes tubular exit

ASCENT INDUSTRIES CO.

All-cash sale to First Tube, LLC (Triple-S Steel unit) for ~$16M; expected close June 30, 2025.
Divestiture is the final step in exiting tubular operations to focus on specialty chemicals.
Proceeds will fund organic/inorganic growth in Specialty Chemicals and general corporate purposes.
ASTI is a N.C.-based manufacturer of ornamental stainless-steel tubing.
CEO Bryan Kitchen says transaction underscores pivot to focused specialty chemicals platform.

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