UAE’s mobility solutions company EasyLease has acquired 55% of The Captain’s Club, the UAE’s biggest boat club, valuing the total company at AED 70 million ($19 million).
EasyLease, a subsidiary of Abu Dhabi-based International Holding Company (IHC), is listed on the Abu Dhabi Securities Exchange.
The Captain’s Club is a membership-based mobility platform that connects members to the UAE’s largest booking app for boats. Founded in 2014, the club has more than 100 boats in three cities and across eight locations, available for its members.
The value of the acquisition is AED 38.5 million, according to Zawya calculations.
Members can book boats online through The Captain’s Club's own software system, accessible on any device.
(Writing by Brinda Darasha; editing by Seban Scaria)