Ascent Industries Co. Announces Successful Completion of Sale of Bristol Metals, LLC
Ascent Industries Co. (ACNT) has successfully completed the sale of Bristol Metals, (BRISMET) to Ta Chen International for $45 million in an all-cash transaction. The proceeds will be used to fund organic and inorganic growth initiatives within the Specialty Chemicals segment and general corporate purposes.
Following the transaction, Ascent's Tubular Products segment will consist solely of American Stainless Tubing, Inc. (ASTI), which produces premium ornamental stainless steel tubing. The company aims to focus its resources on expanding the Specialty Chemicals business, where management sees significant growth opportunities.
Ascent Industries Co. (ACNT) ha completato con successo la vendita di Bristol Metals (BRISMET) a Ta Chen International per 45 milioni di dollari in un'operazione interamente in contante. I proventi saranno utilizzati per finanziare iniziative di crescita organica e inorganica nel segmento delle Chimiche Speciali e per scopi aziendali generali.
Dopo la transazione, il segmento Prodotti Tubolari di Ascent sarà composto esclusivamente da American Stainless Tubing, Inc. (ASTI), che produce tubi ornamentali in acciaio inossidabile di alta qualità. L'azienda intende concentrare le proprie risorse sull'espansione del business delle Chimiche Speciali, dove la direzione vede significative opportunità di crescita.
Ascent Industries Co. (ACNT) ha completado con éxito la venta de Bristol Metals (BRISMET) a Ta Chen International por 45 millones de dólares en una transacción totalmente en efectivo. Los ingresos se utilizarán para financiar iniciativas de crecimiento orgánico e inorgánico dentro del segmento de Químicos Especiales y para fines corporativos generales.
Tras la transacción, el segmento de Productos Tubulares de Ascent consistirá únicamente en American Stainless Tubing, Inc. (ASTI), que produce tubos ornamentales de acero inoxidable de primera calidad. La empresa tiene como objetivo centrar sus recursos en la expansión del negocio de Químicos Especiales, donde la dirección ve oportunidades de crecimiento significativas.
Ascent Industries Co. (ACNT)는 4500만 달러에 Bristol Metals (BRISMET)를 Ta Chen International에 현금 거래로 성공적으로 판매했습니다. 수익금은 특수 화학 분야의 유기적 및 비유기적 성장 이니셔티브와 일반 기업 목적을 위한 자금으로 사용될 것입니다.
거래 후, Ascent의 관 제품 부문은 프리미엄 장식용 스테인리스 강관을 생산하는 American Stainless Tubing, Inc. (ASTI)만으로 구성됩니다. 회사는 경영진이 상당한 성장 기회를 보고 있는 특수 화학 사업 확장에 자원을 집중할 계획입니다.
Ascent Industries Co. (ACNT) a réussi à finaliser la vente de Bristol Metals (BRISMET) à Ta Chen International pour 45 millions de dollars dans le cadre d'une transaction entièrement en espèces. Les revenus seront utilisés pour financer des initiatives de croissance organique et inorganique dans le segment des Produits Chimiques Spécialisés et à des fins générales de l'entreprise.
Suite à la transaction, le segment des Produits Tubulaires d'Ascent sera uniquement composé de American Stainless Tubing, Inc. (ASTI), qui produit des tubes en acier inoxydable ornementaux de haute qualité. L'entreprise vise à concentrer ses ressources sur l'expansion de son activité dans les Produits Chimiques Spécialisés, où la direction voit d'importantes opportunités de croissance.
Ascent Industries Co. (ACNT) hat erfolgreich den Verkauf von Bristol Metals (BRISMET) an Ta Chen International für 45 Millionen Dollar in einer rein bargeldbasierten Transaktion abgeschlossen. Die Erlöse werden verwendet, um organische und anorganische Wachstumsinitiativen im Bereich Spezialchemikalien sowie für allgemeine Unternehmenszwecke zu finanzieren.
Nach der Transaktion wird der Bereich Rohrprodukte von Ascent ausschließlich aus American Stainless Tubing, Inc. (ASTI) bestehen, das hochwertige dekorative Edelstahlrohre produziert. Das Unternehmen beabsichtigt, seine Ressourcen auf die Expansion des Geschäftsbereichs Spezialchemikalien zu konzentrieren, in dem das Management erhebliche Wachstumschancen sieht.
- All-cash sale of BRISMET for $45 million, providing immediate liquidity
- Strategic focus on higher-growth Specialty Chemicals segment
- Proceeds to be used for growth initiatives and value creation
- Reduction in business diversification with the sale of BRISMET
- Tubular Products segment reduced to single entity (ASTI)
Insights
Ascent Industries' $45 million sale of Bristol Metals represents a significant strategic shift that strengthens the company's balance sheet while refocusing its business portfolio. With a market cap of approximately
This divestiture appears strategically sound as it allows Ascent to concentrate resources on its Specialty Chemicals segment, which management clearly views as having superior growth prospects and potentially higher margins than the sold stainless steel pipe business. The all-cash nature of the transaction provides immediate financial flexibility, enhancing Ascent's ability to pursue both organic growth initiatives and potential acquisitions.
Following this transaction, Ascent's Tubular Products segment will be streamlined to only include American Stainless Tubing (ASTI), which focuses on ornamental stainless steel tubing - likely a higher-margin, more specialized product than BRISMET's offerings. This portfolio rationalization should improve overall business focus and potentially enhance returns on invested capital.
While the immediate revenue impact isn't specified, the significant cash infusion relative to Ascent's size positions the company for potential value-creating opportunities in its chemicals business, where focused reinvestment could drive more sustainable long-term growth than maintaining a diversified but potentially unfocused portfolio.
Proceeds will be deployed to advance both organic and inorganic growth initiatives within the Specialty Chemicals segment as well as general corporate purposes, with a focus on driving enhanced returns on invested capital and shareholder value creation.
“We are pleased to have completed the sale of BRISMET to Ta Chen, marking an important milestone for Ascent,” said Bryan Kitchen, President and Chief Executive Officer of Ascent. “This transaction unlocks meaningful value for our shareholders and allows us to focus our resources on expanding our Specialty Chemicals business, where we see significant growth opportunities. We are confident that BRISMET is well positioned for continued success under Ta Chen’s ownership.”
Following the transaction, Ascent's Tubular Products segment will consist solely of American Stainless Tubing, Inc. (ASTI), a leading producer of premium ornamental stainless steel tubing. Additional details on the BRISMET transaction are available in the presentations section on the Company’s investor relations website.
Angle Advisors served as financial advisor and Amundsen Davis, LLC served as legal advisor to Ascent on this transaction.
About Ascent Industries Co.
Ascent Industries Co. (Nasdaq: ACNT) is a company that engages in a number of diverse business activities including the production of specialty chemicals and industrial tubular products. For more information about Ascent, please visit its website at www.ascentco.com.
Forward-Looking Statements
This press release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable federal securities laws. All statements that are not historical facts are forward-looking statements. Forward looking statements can be identified through the use of words such as "estimate," "project," "intend," "expect," "believe," "should," "anticipate," "hope," "optimistic," "plan," "outlook," "should," "could," "may" and similar expressions. The forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially from historical results or those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements and to review the risks as set forth in more detail in Ascent Industries Co.’s Securities and Exchange Commission filings, including our Annual Report on Form 10-K, which filings are available from the SEC or on our website. Ascent Industries Co. assumes no obligation to update any forward-looking information included in this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250407714353/en/
Company Contact
Ryan Kavalauskas
Chief Financial Officer
1-630-884-9181
Investor Relations
Cody Cree
Gateway Group, Inc.
1-949-574-3860
ACNT@gateway-grp.com
Source: Ascent Industries Co.
FAQ
How much did Ascent Industries (ACNT) sell Bristol Metals for?
What will ACNT do with the proceeds from the Bristol Metals sale?
What remains in ACNT's Tubular Products segment after the BRISMET sale?
Who advised Ascent Industries (ACNT) on the Bristol Metals transaction?
What is ACNT's strategic focus after selling Bristol Metals?
