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C Street Advisory Group provides strategic communications services to First Brands Group as the auto parts maker files for Chapter 11 amid questions about its disclosures and billions of dollars in off-the-balance-sheet financing.
The Financial Times called the bankruptcy filing “one of the most spectacular collapses in private debt markets in recent years.”
The company estimates liabilities between $10B and $50B, and assets in the $1B to $10B bracket. A special committee will probe FB's off-balance sheets maneuvers.
Chuck Moore, FB’s chief restructuring officer, said the Chapter 11 filing is an important step toward stabilizing the company “and securing a long-term future for the Company’s world-class portfolio of aftermarket automotive part brands.”
First Brands markets Fram (oil filters), Trico (wiper blades), Autolite (spark plugs), Carter (fuel/water pumps) and Phillips (headlights).
Catalyst IR handles Mobix Labs as it signs a “non-binding letter of intent” to acquire Special Project Delivery LLC, a privately-owned platform with positions in US rare earth properties.
The Blueshirt Group handles Lime as the San Francisco-based electric bike/scooter company has filed paperwork for an initial public offering, which will have an expected valuation in the $2B range.
Why CEOs need their CFOs and CCOs on the same page.
ICR handles Rare Earths Americas as the Manchester, Georgia-based company plans an initial public offering valued in the $370M range.
