EasyLease, a leading mobility solution leader in the UAE, and a subsidiary of Abu Dhabi-based International Holding Company (IHC), has acquired 55% of The Captain’s Club, the UAE’s biggest boat club for AED70 million ($19 million).

Founded in 2014, The Captain’s Club is a membership-based mobility platform, connecting its members to the UAE’s largest booking app for boats.

Located in three cities across 8 marinas, there are over 120 boats available for members for on-the-water experiences. Members can book boats online through The Captain’s Club's own software system, accessible on any device.

Matar Suhail Ali Al Yahbouni Aldhaheri, Chairman of EasyLease, said: “EasyLease is transforming into a mobility group that disrupts the regional industry by targeting scalable physical and technological platforms with significant growth potential. 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. We look forward to playing an important role and becoming the leading all-round mobility player in the UAE and the region.”

Zaid Shouly, CEO and Managing Partner of The Captain’s Club, added: “We are glad to have found a partner in EasyLease that shares our vision for an innovative and affordable tech-driven alternative to boat ownership. 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.”

The Captain’s Club has expanded exponentially over the last 5 years, as memberships grew at a CAGR of 47% from 2016 to 2021. The company currently owns over 120 boats in the UAE with the aim of growing its fleet to 300 boats by 2025.

As part of EasyLease’s focus on mobility, the Company is partnering and acquiring a range of businesses in order to ensure a well-diversified multi-vehicle portfolio, reflecting strong growth in demand for “last mile” logistics services. The Company owns more than 25,000 motorbikes and 10 Service Centers, and mobile workshops and operates across the seven emirates. – TradeArabia News Service