First Brands Group has launched a marketing and sale process to sell its business, in whole or in parts, as part of its Chapter 11 bankruptcy proceedings.
The US-based aftermarket automotive parts supplier said the process is designed to maximise value for stakeholders, speed up its exit from Chapter 11 and position its brands and operations for their next phase under new ownership.
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The company intends to put all its assets on the market and expects the sale process to be completed in the first quarter of 2026, subject to approval from the bankruptcy court.
First Brands confirmed it is in talks with an Ad Hoc Group of lenders on a broader agreement that would provide additional debtor-in-possession financing and potentially see the group act as a stalking horse bidder for selected business units.
If agreed and cleared by the court, the proposed financing would be used to maintain supply and service levels for customers across the company’s core brands and product ranges during the same period.
First Brands’ portfolio covers aftermarket and original equipment automotive components, including brakes, filters, spark plugs, wipers, pumps, lighting, towing products and accessories.
Its brands, such as FRAM, Raybestos, Trico, Autolite and Reese, supply retail and commercial customers worldwide, supported by a global manufacturing and distribution network.
The company said it expects to file a motion seeking authorisation to run the sale and marketing process under section 363 of the US Bankruptcy Code.
First Brands Group Interim CEO Charles Moore said: “Launching the marketing process represents a decisive step toward positioning our brands for long-term stability under new ownership. Over the past several months, we have gained clarity on the significant value across the First Brands portfolio and the strong growth potential of our core business lines in the aftermarket industry.”
