Long Beach Company Acquires Metals Distributor for $45 Million
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Ta Chen International Inc., a Taiwanese company with U.S. operations headquartered in Long Beach, acquired the assets of Bristol Metals LLC from parent firm Ascent Industries Co. for $45 million in an all-cash transaction. The subsidiary manufactures and distributes stainless and aluminum coils, sheets, tubs and other products. The deal is expected to close by the end of the first quarter.
“This transaction provides Ascent with additional capital to pursue growth opportunities within the specialty chemicals segment,” said Bryan Kitchen, chief executive of Ascent, in a statement.
Angle Advisors acted as financial advisor, and Amundsen Davis acted as legal advisor to Ascent.
Information for this article was sourced from Ascent.
