'Exeter Finance is a pioneer in offering innovative financial solutions at scale across the credit spectrum. Notable investments in the auto value chain include: Santander Consumer USA (SCUSA), China Auto Rental, Au Financiers, Uxin, defi SOLUTIONS, Cango, and Car Trade. Warburg Pincus is a long-time, active investor in the auto industry across a variety of verticals including auto lenders, rental car providers, e-commerce distribution, and software platforms.

We have made tremendous progress under Blackstone's ownership establishing Exeter as an industry leader, and I'm proud of the team's solid execution,' said Jason Grubb, Exeter's Chief Executive Officer. 'We are thrilled to partner with the Warburg Pincus-led investor group as we enter this next phase of growth for Exeter. Exeter has leveraged its extensive automobile finance industry knowledge to deliver leading-edge technology and financial solutions to more than one million customers.

The company underwrites, purchases, services and securitizes retail installment contracts from more than 11,000 auto dealers and 475,000 customers nationwide. Terms of the private transaction were not disclosed.Įxeter is a rapidly growing tech-enabled indirect auto lender, with a managed loan portfolio of more than $7 billion. IRVING, Texas, J/PRNewswire/ - Exeter Finance LLC, a leading indirect auto finance company, announced today that it has entered into a definitive agreement to be acquired by an investor group led by Warburg Pincus from funds managed by Blackstone (NYSE: BX).

Exeter finance auto