Premium Guard Inc. Acquires Intellectual Property and Assets from First Brands Group

Court approves sale agreement as First Brands moves to wind down remaining business units

Apr. 16, 2026 at 8:57pm

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A high-end, photorealistic studio still-life photograph featuring a collection of premium auto parts components, including a spark plug, wiper blade, and other conceptual elements, arranged elegantly on a clean, monochromatic seamless background using dramatic studio lighting to symbolize the strategic importance of this transaction.The acquisition of key intellectual property and assets from First Brands Group positions Premium Guard Inc. for expansion in the aftermarket auto parts industry.Texas City Today

Premium Guard Inc. (PGI) has completed the purchase of intellectual property and assets from First Brands Group, including wiper blades, spark plugs, and other product lines for the aftermarket. The U.S. Bankruptcy Court for the Southern District of Texas approved the sale agreement, which will allow PGI to expand its portfolio and leverage First Brands' engineering capabilities. Meanwhile, the court also approved an agreement for First Brands to contract with a consultant to wind down its remaining business units not included in the sale.

Why it matters

The acquisition strengthens PGI's position in the aftermarket auto parts industry, allowing the company to grow its product offerings and tap into First Brands' established engineering expertise. For First Brands, the sale and wind-down plan represents an important step in resolving its bankruptcy proceedings, which were complicated by allegations of wrongdoing by former executives.

The details

Under the approved agreement, PGI has acquired patents, engineering, and technical capabilities related to wiper blades, spark plugs, and lift supports. The acquired assets include brands such as Autolite, Fram, Trico, Anco, Luber-finer, and Strongarm. PGI's CEO, Anan Bishara, stated that the investment will allow the company to 'revitalize these legacy assets and fully leverage the patents, engineering and know-how built on decades of ingenuity.' The court also approved a consultant agreement between First Brands and Hilco to sell off the company's remaining assets not included in the PGI transaction, as First Brands works to collect on outstanding accounts receivable and finalize its Chapter 11 reorganization plan.

  • The sale agreement was approved by the U.S. Bankruptcy Court for the Southern District of Texas on April 16, 2026.
  • First Brands filed for bankruptcy in September 2025, and former executives were indicted on federal fraud charges in January 2026.

The players

Premium Guard Inc. (PGI)

An aftermarket auto parts company that has acquired intellectual property and assets from First Brands Group, including wiper blades, spark plugs, and other product lines.

First Brands Group

A former manufacturer of automotive parts and accessories that filed for bankruptcy in September 2025 and is now in the process of winding down its remaining business units.

Anan Bishara

The founder and CEO of Premium Guard Inc., who expressed excitement about the acquisition and its potential to strengthen PGI's platform and expand its product offerings.

Hilco

A consulting firm that has been contracted by First Brands to assist in the sale of the company's remaining assets not included in the PGI transaction.

Judge Christopher Lopez

The U.S. Bankruptcy Court judge who approved the sale agreement and consultant agreement between First Brands and Hilco.

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What they’re saying

“We are very excited to complete this acquisition after a tremendous effort to bring it across the finish line. This marks an important step in strengthening our platform and positions PGI for expansion into new categories. It also enables us to leverage proven engineering capabilities and accelerate the delivery of innovative, high-quality products to market.”

— Anan Bishara, Founder and CEO, Premium Guard Inc.

“Our commitment to our customers remains at the center of everything we do. This investment allows us to grow alongside our partners, support their evolving needs and continue delivering high-quality, reliable solutions at scale.”

— Anan Bishara, Founder and CEO, Premium Guard Inc.

“There's still going to be plenty to do and other stakeholders to speak to, but we are happy to report that we're going to be able to kick this off in the near term.”

— Sunny Signh, Attorney for First Brands

“We learned, frankly, that a number of account obligors ... whose balance sheets are robust ... are becoming reluctant payors. We think this estate needs to know and understand that we need to shine light on some conduct that we need to take some aggressive action with.”

— Charles Kelley, Attorney for lender Katsumi

“The court only sees 10-15% that's above water. This would've been nasty without constructive engagement.”

— Ivan M. Gold, Attorney for one of First Brands' landlords

What’s next

The next hearing in the First Brands bankruptcy case is scheduled for Monday, April 21, 2026.

The takeaway

This acquisition represents an important milestone for Premium Guard Inc. as it seeks to expand its product portfolio and leverage the engineering expertise of the acquired First Brands assets. For First Brands, the sale and wind-down plan is a critical step in resolving its complex bankruptcy proceedings, which have been complicated by allegations of wrongdoing by former executives.