UAE’s EasyLease acquires majority stake in United Trans

UAE-based EasyLease snaps up majority stake in United Trans: UAE-based InternationalHolding Company (IHC) subsidiary and integrated mobility solutions provider EasyLease has acquired a 60% stake in UAE-based Alserkal Group subsidiary and transportation technology solutions provider United Trans, at an undisclosed sum, according to a press release (pdf). The move comes as EasyLease looks to boost its foothold in the regional smart mobility and railway sectors, the statement said.

What they said: The two companies look to collaborate to “deliver enhanced mobility transportation and rail solutions that meet the evolving needs of our customers,” EasyLease CEO Ahmad Al Sadah said. The partnership will also enable the pair to unlock new avenues for growth in the GCC and regional transport sectors, Al Sadah added.

About United Trans: Founded in 2008, the outfit provides technology-enabled mobility transport solutions for the rail, aviation, and marine sectors, while also supplying security screening solutions, and maintaining an emphasis on rail and smart mobility, the statement said. United Trans has taken up landmark projects in the GCC, including Dubai Metro, Dubai Tram, Dubai Airport People Mover, and the Doha Metro.

About EasyLease: Established in 2011, the company is a leading provider of integrated mobility solutions, servicing sectors including e-commerce, delivery, logistics, couriers, and food services, the statement said. EasyLease’s 25k vehicle fleet is one of the largest in the UAE.

EasyLease has been on an acquisition spree: The firm obtained a 60% stake in Ripe in December 2023, which offers services including container and commercial kiosk rentals, food trucks, parking facilities management, events management, and drive-through services. EasyLease also acquired a 60% stake in UAE-based electric charger manufacturing and installation outfit Fully Charged, that same month.

ICYMI- EasyLease’s bottomline fell 19% y-o-y to AED 26.5 mn in 3Q 2023. The drop in net income was attributed to investments in line with a long-term growth plan, which sees the outfit broaching new markets in Saudi Arabia and Bahrain, while also tapping new verticals. The firm’s topline figures boosted 35.6% y-o-y to AED 211.8 mn during the same period.