Abu Dhabi, UAE: EasyLease (PJSC), the UAE’s mobility solution leader, 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, valuing the total company at AED 70 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.
Established in 2011, EasyLease is the UAE market leader in providing turnkey, ready-to-go logistic and delivery mobility solutions, and leisure and lifestyle transportation concepts. The company operates across the UAE’s seven emirates with the vision of delivering a mobility solution that mainly covers motorbike transportation, fleet traffic, management innovations, and yacht and boating fleet rental membership. With a fleet of over 25,000 motorbikes and 10 Service Centers, and mobile workshops, EasyLease has completed over 105 million delivery trips across the UAE. At the end of 2021, EasyLease’s revenue touched AED 148 million, maintaining 26% profit and assets of AED 130 million.
About The Captain’s Club
The Captain’s Club, is the UAE’s biggest boat club with more than 120 boats across Abu Dhabi, Dubai and RAK. The Captain’s Club offers an annual membership with access to boating without the hassles and headaches. By joining The Captain’s Club, members can enjoy all boating experiences such as fishing, water sports, island hopping and much more with only a fraction of the cost of owning a boat. The Captain’s Club offers the ultimate alternative solution to boat ownership with all the fun and enjoyment, and without any of the hassles and headaches.
About International Holding Company
IHC was founded in 1998, as part of an initiative to diversify and develop non-oil business sectors in the UAE, and has grown to become the most valuable listed holding company in the Middle East with a market cap of USD 140 billion. The company endeavours to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates. IHC is included in FTSE ADX 15 Index (FADX 15), which represents the top 15 largest and most liquid companies on the ADX.
IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 30 entities and 22,345 employees, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Real Estate, Agriculture, Healthcare, Food and Beverage, Utilities, Industries, IT and Communications, Retail and Leisure, and Capital.
With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes, and new opportunities arise, IHC remains focused on resilience, innovation and redefining the marketplace for itself, its clients, and partners.