The Aftermarket Division of Marelli Holding, Magneti Marelli Parts & Service has now been confirmed to be subject of a purchase agreement with the US-based First Brand Group.
The transaction will be completed in April 2023 with Stefano Sancassani, CEO of LATAM and Global Aftermarket of Magneti Marelli Italia, and he will remain in place to ease the transition and to ensure continuity.
Over recent years, there has been a number of acquisitions by First Brand Group as they continue to gain ground by becoming an increasingly dominant Aftermarket player.
- Jan 2023 - Acquired Horizon Global Corporation
- Dec 2020 - Acquired APC Automotive Technologies
- Jul 2020 - Acquired Brake Parts Inc.
- Jul 2020 - Acquired Champion Laboratories
- Mar 2019 - Acquired Wiper system business from Federal Mogul Motorparts Corporation
- Mar 2019 - Acquired FRAM Group Holdings
- Jan 2019 - Acquired ASC Industries, Inc/Airtex Products
Significance: Since changing their name from Trico Group in 2020, First Brands has been acquiring corporations that has resulted in securing new production techniques and facilities, as well as gaining established and renowned brands, such as FRAM, Autolite, Anco, Carter, Strongarm, Centric Parts, Luber Finer, and Raybestos. Adding Marelli, which is known for its reputation of heritage and quality, will continue to strengthen their presence in Europe, and also complement their home market business.