Fair Holdings, Inc., Led by TrueCar Founder Scott Painter, Completes $227 Million Take-Private Acquisition of TrueCar with PenFed, Zurich North America, AutoNation and Others

The acquisition of TrueCar will refocus the business on profitability and the future of how consumers access mobility.

SANTA MONICA, Calif., Jan. 21, 2026 /PRNewswire/ -- TrueCar, one of the most recognized and trusted automotive brands, today announced the completion of its sale in a take-private transaction with Fair Holdings, Inc., led by TrueCar Founder Scott Painter, with a group of strategic partners, investors and lenders. The group includes PenFed Credit Union ("PenFed"), one of the nation's largest and most innovative credit unions; Zurich North America ("Zurich"), a leading global multi-line insurer; AutoNation (NYSE: AN), one of the largest U.S. automotive retailers; and Atlantic Coast Automotive, a leading dealer group. The broader group also includes Impel AI, a leading automotive AI company; ID.me, a digital identity verification platform; CRIF, a global provider of credit bureau and risk management solutions for credit unions; and In The Car, an embedded auto insurance platform. As a result of the closing of the transaction, TrueCar will no longer be publicly traded, and Painter will return as Chief Executive Officer to operate the business. In addition, as part of the transaction, James Schenck, President and CEO, PenFed Credit Union, will join the Board of Directors of TrueCar's parent company, Fair Holdings, Inc.