Service Centers

Triple-S closes on American Stainless Tubing buy
Written by Ethan Bernard
July 3, 2025
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
Read more from Ethan BernardLatest in Service Centers

Worthington Steel fiscal Q4 profit rises despite sales drop
Worthington Steel earnings rose while sales fell in its fiscal fourth quarter.

Friedman’s profits tick higher on record quarterly sales volumes
Friedman Industries' earnings increased in its fiscal fourth quarter ended March 31.

Worthington expands European presence with closing of Sitem deal
The Ohio-based steel processor is now the majority owner of Italy's Sitem Group, which has six manufacturing sites across Italy, Switzerland, Slovakia, and France.

Klöckner narrows Q1 loss, targets growth in North America and Europe
Germany’s Klöckner & Co. reported a narrower loss in the first quarter as the company targets becoming the “leading” service center and metal processing firm in North America and Europe by 2030.