Motorcar Parts buys Centric Parts brake brands in bankruptcy sale

Motorcar Parts of America (Nasdaq: MPAA) has acquired the intellectual and digital property of several brake brands from First Brands Group through a Chapter 11 bankruptcy court-supervised sales process.

The transaction was structured under Section 363 of the U.S. Bankruptcy Code, with certain assets transferred free and clear of liens, claims, and encumbrances, and without assuming operational liabilities. Financial terms were not disclosed.

The acquired brands include Centric Parts, Posi Quiet, StopTech, C-TEK, and GCX, along with associated catalogs, engineering data, and proprietary technical information. The Centric Parts brake business had estimated gross sales of as much as $400 million at the supplier level, according to industry reports.

"This purchase complements the company's expansion of brake-related product coverage and commitment to the braking category, particularly within the professional installer and performance segments," said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America.

Motorcar Parts of America is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts, selling to retail outlets and the professional repair market across the United States, Canada, and Mexico.

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