Abu Dhabi - Mubasher: EasyLease Motorcycle Rental, a subsidiary of International Holdings Company (IHC), has acquired a 55% stake in The Captain’s Club, the UAE’s biggest boat club, in exchange for AED 70 million.
The acquisition is in line with EasyLease's objective to diversify its multi-vehicle portfolio, expand its businesses in lifestyle and leisure mobility, and meet the increasing demand for last-mile logistics services, according to a press release on Tuesday.
Established in 2014, The Captain’s Club is located in three cities across eight marinas, connecting its members to the UAE’s largest booking app for boats.
The Chairman of EasyLease, Matar Suhail Ali Al Yahbouni Aldhaheri, said: "The acquisition of The Captain’s Club sees us expand from B2B services into the lifestyle and leisure industry, and we intend to support and accelerate its growth plans to cover all emirates and expand regionally."
The CEO and Managing Partner of The Captain’s Club, Zaid Shouly, commented: "We are already the UAE’s leading subscription-based boat rental platform, and are looking to almost triple our fleet of hire boats in the next few years. By drawing on the support and expertise of Easy Lease, we will be able to scale further, grow our customer base, and expand regionally in the future."
It is noteworthy to mention that in July 2021, the company acquired a 70% stake in 1885 Delivery Services, providing delivery services across the UAE.
