GTCR Purchase of Stake in Triad Financial

9/27/2005

CHICAGO - GTCR Golder Rauner, LLC, a leading private-equity investment firm, has acquired an interest in Triad Financial Corporation, a major provider of non-prime automobile financing. GTCR partnered with Gerald J. Ford to purchase Triad from Ford Motor Credit Company for approximately $2.4 billion. Ford Motor Credit has owned and operated Triad as a wholly-owned subsidiary since June 1999.

Gerald J. Ford is the former Chairman and CEO of Golden State Bancorp and its subsidiary, California Federal Bank, FSB. Ford is currently the Chairman of the Board of Directors of First Acceptance Corporation, a position he has held since 1996. He is a proven leader in the auto financing industry, having served on numerous boards, such as Auto One Acceptance Corporation, itself a division of California Federal Bank, as well as AmeriCredit Corporation. Ford also serves as the Chairman of the Board of Trustees of Southern Methodist University.

“We are thrilled to have assembled an all-star team of investors, such as GTCR, to expand Triad’s value proposition to the non-prime auto financing industry,” Gerald J. Ford said. “GTCR’s deep history of successfully working with executives to build leading companies makes the firm an ideal partner.”

With over 1,200 employees and approximately $4 billion in receivables, Triad is among the largest non-prime lenders in the industry. The company provides innovative solutions and distinctive customer service to over 5,000 new and used car dealerships across the nation, helping non-prime borrowers achieve the goal of owning an automobile.

“We are excited to have partnered in such a high-performing company with talented executives. Under the helm of Jerry Ford, Triad boasts an exceptional leadership team with industry-recognized achievements,” said GTCR Principal David Donnini. “With the combination of a successful management team and a strong position in the auto finance industry, Triad has a unique opportunity to dynamically build on its record of outstanding success.”

Debt financing for the transaction was provided by Goldman Sachs Group, Inc and Citigroup, Inc. Goldman Sachs also provided additional equity financing in support of the transaction.

The deal marks GTCR’s ongoing commitment to partnering with outstanding management teams to build strong companies through acquisitions and strong internal growth, a strategy that the firm pioneered a quarter century ago.

About GTCR Golder Rauner LLC
Founded in 1980, GTCR Golder Rauner, LLC is a leading private equity investment firm and long-term strategic partner for outstanding management teams. The Chicago-based firm pioneered the investment strategy of identifying and partnering with exceptional executives to acquire and build companies through a combination of acquisitions and strong internal growth. GTCR currently manages more than $6 billion of equity capital invested in a wide range of companies and industries. More information about GTCR can be found at www.gtcr.com.

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