Ascent industries announces sale of specialty pipe & tube for $55 million

Oak brook, ill.--(business wire)--ascent industries co. (nasdaq: acnt) (“ascent” or the “company”), an industrials company focused on the production and distribution of industrial tubular products and specialty chemicals, has announced the sale of the business of specialty pipe & tube (“spt”) for approximately $55 million in an all-cash transaction. the transaction closed on december 22, 2023. spt is a leading master distributor for large diameter, hot finish seamless carbon steel pipe and.
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