Service Centers

Triple-S closes on American Stainless Tubing buy

Written by Ethan Bernard


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

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