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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).
Prosek Partners handles New York’s Tilray Brands, craft beer & cannabis operation, as it acquires BrewDog, a leading British independent beer producer in the UK, for $45M.
Brunswick Group handles Zurich Insurance as it agrees to buy UK-based Beazley specialty insurer in a deal valued at $11B.
FGS Global represents Brink’s as it agrees to acquire NCR Atleos, which relies on Collected Strategies, in a $6.6B cash & stock deal to create a leading fintech infrastructure company. (Updated)
A January article in O’Dwyer’s proposes that in 2026, the strongest financial brands will not simply tell compelling stories—they will “signal readiness.”
C Street Advisory Group is working the Chapter 11 filing of Axip Energy Services as it unloads its nearly all of its assets to deal with a heavy debt load.
