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FT Partners Advises Breeze on its Sale to Ford

FT Partners Advises Breeze on its Sale to Ford

Overview of Transaction

  • Breeze, now re-launched as Canvas, announced its sale to Ford Motor Co.
  • Headquartered in San Francisco, California, Canvas provides an online platform for month-to-month car subscriptions as an alternative to traditional vehicle ownership
  • Canvas offers pre-owned Ford vehicles on a monthly subscription basis, which includes bundled registration, insurance, maintenance, roadside assistance and warranty coverage
  • Canvas is aimed at providing choices for consumers who want a simpler, more flexible and transparent alternative to car ownership
  • Ford Motor Co. is backing the Company through its Ford Motor Credit Co. division, the dealer and consumer financing arm of the U.S. automaker

Significance of Transaction

  • The acquisition of Breeze provides Ford Credit with an online platform along with short-term leasing technology and expertise
  • The transaction also provides Ford with a new source of revenue and a new way to manage off-lease vehicles

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Breeze in this transaction
  • This transaction demonstrates FT Partners' deep domain expertise and experience across the rapidly evolving and expanding Auto FinTech space