Triple-S closes on American Stainless Tubing buy

Triple-S Steel Holdings has closed on its previously announced acquisition of American Stainless Tubing.

The deal was a $16-million all-cash transaction, subject to customary closing conditions.

North Carolina-based American Stainless Tubing was acquired by First Tube LLC, a subsidiary of Triple-S, from Ascent Industries, a specialty chemical company.

Note that Angle Advisors was the exclusive investment banking advisor to Ascent for completing the transaction, according to a statement from Angle Advisors on July 2.

Houston-based Triple-S is a privately owned steel service center with over 60 locations.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Ethan Bernard

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