First Brands Group, LLC is a leading aftermarket automotive parts supplier with a portfolio of 25+ iconic brands including FRAM filters, Raybestos brakes, Autolite spark plugs, and Cardone remanufactured parts. The Cleveland-based company employs approximately 26,000 people globally (6,000 US, 14,000 Mexico) and generated roughly $3 billion in annual revenue in 2024. Built through 15+ acquisitions, First Brands operates a vertically-integrated global supply chain with 36 Mexican factories and over 2,900 patents. The company and 75 affiliated debtors filed for Chapter 11 protection on September 24, 2025 in the Southern District of Texas (Case No. 25-90399) due to geopolitical uncertainty, tariff headwinds, and a liquidity crisis stemming from its debt-funded acquisition strategy. At filing, total obligations exceeded $9.3 billion across a complex capital structure including a $4.63 billion first lien term loan, $1.9 billion in off-balance sheet Onset facilities, and $2.3 billion in factoring liabilities. The Debtors secured a massive $4.4 billion DIP facility comprising $1.1 billion in new money and a $3.3 billion roll-up. An examiner was appointed to investigate alleged prepetition fraud (fabricated invoices, double-pledging receivables, billions missing) and the case remains active with an auction scheduled for February 2026.