Motorcar Parts of America Buys Centric Parts Brake Brands From First Brands
Motorcar Parts of America (MPAA) acquired the intellectual and digital assets of the Centric Parts brake brands from First Brands Group through its Chapter 11 bankruptcy process, the company said Tuesday.The company said the court-approved transaction includes the Centric Parts, Posi Quiet, StopTech, C-TEK and GCX brands, along with related catalogs, engineering assets and proprietary technology.The acquisition was under a court-supervised sales process and structured so Motorcar Parts assumed no operational liabilities. Certain assets were transferred free of all liens, claims and encumbrances, according to the company. Financial terms were not disclosed.Motorcar Parts said the acquisition strengthens its brake product portfolio, particularly in the professional installer and performance segments.Shares of Motorcar Parts of America were up past 1% in Tuesday trading.Price: $15.35, Change: $+0.16, Percent Change: +1.02%
