January 22,
2026 - B. Riley Securities, Inc. ("BRS")
today announced that it served as exclusive financial advisor to Fair Holdings,
Inc. in connection with its $227 million take-private acquisition of TrueCar.
Founded
in 2005, TrueCar is a leading digital automotive technology platform with a
network of over 11,500 car dealers nationwide. As part of its platform, TrueCar
powers auto-buying programs for over 250 leading brands, including Sam's Club,
AAA, and more than 100 credit unions.
The transaction was led by Scott Painter, founder of TrueCar and Chief Executive Officer of Fair Holdings, and supported by a consortium of strategic partners, investors and lenders.
"B. Riley Securities congratulates Scott and the Fair Holdings team
on the successful completion of a complex, multi-party take-private
transaction that brings together dealers, lenders, insurers and technology
leaders around a shared vision for the future of automotive retail," said Michael
Lowell, Senior Managing Director. "This transaction reflects a strong
conviction in TrueCar's brand, scale and strategic relevance across
the automotive ecosystem."
"This transaction marks an important new chapter for TrueCar and reflects our
conviction in the company's role at the center of a rapidly evolving automotive
ecosystem," said Scott Painter, Founder of TrueCar and CEO of Fair
Holdings. "B. Riley Securities was a trusted partner throughout the
process, bringing deep transaction expertise and execution that was
instrumental in completing a successful take-private transaction."
The transaction was announced on October 15, 2025, and
approved by TrueCar stockholders on December 23, 2025. Under the terms of the
agreement, TrueCar stockholders will receive $2.55 per share in cash, and
TrueCar shares will cease trading on NASDAQ. Upon the closing of the
transaction on January 21, 2026, Mr. Painter rejoined TrueCar as Chief
Executive Officer.
BRS' deal team was led by Michael Lowell and included Grayson Largman and
Arjun Oza. Read more about the transaction here.
About B. Riley Securities
BRS provides a full suite of investment banking and capital markets services to
corporations, financial sponsors, and institutional investors across all
industry verticals. Services include initial, secondary, and follow-on
offerings, debt and equity-linked solutions, institutional private placements,
merger and acquisition (M&A) advisory, corporate restructuring, and
liability management. Widely recognized for its thematic proprietary equity
research, clients benefit from BRS' extensive network,
industry expertise, and proven execution capabilities through its
end-to-end platform. For more information, visit www.brileysecurities.com. Follow us on LinkedIn.