Inside the aftermarket supplier First Brands Groups’ downfall

The recent collapse of the replacement auto parts supplier, along with a potential multi-billion-dollar crisis emerging from it, has rattled both finance companies and the industry.

The Michigan, US-based aftermarket supplier First Brands Group experienced a sudden collapse in September 2025 when it declared bankruptcy. The supplier of assorted wear-and-tear parts had grown rapidly in recent years through a series of debt-financed acquisitions. In less than 15 years, it has completed more than 15 acquisition transactions, growing its portfolio to over 25 brands.