IRVING, Texas – Nov. 30, 2021 – Exeter Finance LLC, a leading indirect auto finance company,
announced today it will extend its lending reach into the near-prime credit spectrum, effective
immediately. Traditionally a non-prime lender since its founding in 2006, Exeter has now launched its
new near-prime program, ExeterPlus℠, to auto dealers nationwide.
“We’re excited that after establishing a track record of success in non-prime auto financing over the
past 15 years, Exeter has launched its new near-prime program, ExeterPlus℠. The program will offer
dealers flats, an extended max term and increased back-end,” said Exeter President & Chief Operating
Officer Brad Martin.
Martin noted that Exeter has helped more than one million customers purchase the vehicles they need
since 2006. Now, he said the company is looking forward to helping its next million customers through
competitive offerings that are right for them — and for its dealer partners as well.
Exeter’s announcement follows the closing of the company’s sale to an investor group led by Warburg
Pincus. Terms of the private transaction were not disclosed. Jason Grubb continues as CEO and is a
meaningful investor in the company, alongside Martin and the rest of the current Exeter management
team.
About Exeter Finance
Exeter Finance LLC is an indirect auto finance company headquartered in Irving, Texas. Founded in
2006, the company underwrites, purchases, services, and securitizes retail installment contracts from
U.S. automobile dealers. Exeter works with more than 11,000 dealers and 475,000 customers
nationwide providing indirect financing for both new and used vehicles. The company has a serviced
finance portfolio of more than $7 billion. For more information, visit www.exeterfinance.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm has more than $67 billion in private
equity assets under management. The firm’s active portfolio of more than 215 companies is highly
diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management
teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus
has raised 20 private equity funds, which have invested more than $97 billion in over 960 companies in
more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing,
Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo,
Shanghai, and Singapore. For more information please visit www.warburgpincus.com.
Source: https://www.autonews.com/fi-press-release/exeter-finance-extends-near-prime