Secures $1.1 billion in debtor-in-possession financing from first lien lenders to enable continued operations
Chapter 11 cases pertain solely to U.S. operations; International operations continue in the ordinary course
Company to continue delivering best-in-class aftermarket automotive technology and engineering capabilities that meet the evolving needs of its global customer base
ROCHESTER HILLS, Mich.–(BUSINESS WIRE)–First Brands Group, LLC (“First Brands” or the “Company”), a leading global supplier of aftermarket automotive parts, today announced that the Company and certain of its affiliates have filed voluntary petitions for chapter 11 relief in the United States Bankruptcy Court for the Southern District of Texas (the “Court”) to stabilize its business operations and facilitate a value-maximizing transaction.
To support business continuity, an ad hoc group of cross-holders (the “Ad Hoc Group”) has agreed to provide First Brands with $1.1 billion in debtor-in-possession (“DIP”) financing that will be fully backstopped by certain members of the Ad Hoc Group. This financing will provide the necessary capital for the Company to maintain operations, fulfill customer orders, and meet its commitments to its vendors and partners from the start of the chapter 11 cases.
“Today’s actions mark an important step toward stabilizing First Brands’ operations and securing a long-term future for the Company’s world-class portfolio of aftermarket automotive part brands,” said Chuck Moore, Chief Restructuring Officer of First Brands. “With committed funding from our key financial partners, we remain focused on supporting our employees, working with our valued suppliers, and delivering best-in-class aftermarket automotive technology for our customers globally. We are confident in the strength of First Brands’ industry-leading portfolio and the essential role we play in the automotive supply chain.”
Global operations during the financial restructuring process
First Brands’ global operations are expected to continue without interruption during the chapter 11 cases, with full continuity for the Company’s international customers, partners, and employees. Importantly, the Company’s international operations are not part of the court-supervised financial restructuring process.
Additionally, to ensure a seamless transition into the chapter 11 process, First Brands has filed a number of customary “First Day Motions.” Upon court approval, these motions will enable the Company to, among other things, continue payment of employee wages and benefits, honor commitments to customers, and satisfy post-petition obligations to vendors and partners.
These filings follow the voluntary chapter 11 petitions filed by certain of the Company’s non-operational special purpose entities on September 24, 2025. First Brands is seeking relief to jointly administer these chapter 11 cases.
Additional information regarding First Brands’ chapter 11 process is available at https://restructuring.ra.kroll.com/firstbrands. Stakeholders with questions may call the Company’s Claims Agent, Kroll, at (877) 631-1151 or +1 (646) 290-7146 if calling from outside the U.S. or Canada, or email [email protected].
Advisors
Weil, Gotshal and Manges LLP is serving as legal counsel, Lazard is serving as investment banker, Alvarez & Marsal is serving as financial advisor, and C Street Advisory Group is serving as strategic communications advisor to First Brands Group. Gibson, Dunn & Crutcher LLP is serving as legal counsel, and Evercore is serving as investment banker to the Ad Hoc Group.
About First Brands Group
First Brands Group™ is a global automotive parts company that develops, markets and sells premium products through a portfolio of market-leading brands including: Raybestos® complete brake solutions, Centric Parts® replacement brake components, StopTech® performance brakes, FRAM® filtration products, Luber-finer® filtration products, TRICO® wiper blades, ANCO® wiper blades, Michelin® licensed wiper blades, Carter® fuel and water pumps, Autolite® spark plugs, StrongArm® lift supports, Carlson® brake hardware, CARDONE® new and remanufactured replacement parts, and our towing & trailering portfolio composed of REESE®, DRAWTITE®, BULLDOG®, TEKONSHA®, FULTON®, Westfalia® along with Hopkins® universal owned and licensed brands and Philips® licensed aftermarket lighting. The First Brands Group™ portfolio of world-class brands offers best-in-class technology, industry-leading engineering capabilities and superior customer service.
Contacts
Media
C Street Advisory Group
[email protected]
