TrueCar Inc. ($TRUE) announced Wednesday it will be taken private in an all-cash acquisition valued at approximately $227 million by Fair Holdings, a firm led by company founder Scott Painter. The transaction marks a major shakeup in the online vehicle marketplace amid ongoing challenges in the automotive sector.
- The $2.55-per-share purchase price represents a 72% premium over TrueCar’s Tuesday closing price.
- The deal is expected to close in the fourth quarter of 2025 or early 2026, pending regulatory and shareholder approvals.
- Painter, who founded TrueCar in 2005 and took it public, will return as CEO following the acquisition. He previously stepped down in 2015 amid dealer backlash over pricing policies.
- TrueCar’s privatization comes as the broader auto market faces cost pressures tied to tariffs, high borrowing rates, and recent bankruptcies in subprime auto lending, including Tricolor Holdings.
- Fair Holdings’ acquisition aligns with Painter’s broader efforts in automotive innovation, including his electric vehicle subscription company, Autonomy.
Relevant Companies
- $TRUE — TrueCar will be taken private at $2.55 per share under the Fair Holdings buyout.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
