Dubai: EasyLease, the ADX listed firm and one of the UAE's biggest fleet operators, is expanding its interests to the rail sector.
EasyLease, one of the subsidiaries in Abu Dhabi's International Holding Company (IHC) portfolio, acquired a 60 per cent stake in United Trans, a rail and transportation tech solutions provider and part of Alserkal Group. The move marks a 'major step forward in EasyLease's commitment to expand its capabilities and presence across the regional mobility sector'.
Set up in 2008, United Trans has been involved in projects such as Dubai Metro, Dubai Tram, Dubai Airport People Mover and Doha Metro. Clients include Dubai's Road & Transport Authority, Ajman Trasport Authority, Abu Dhabi Integrated Trasport Centre, and Dubai International Airports. Its operations extend to Oman and Bahrain, and marks United Trans for further expansion across the GCC.
United Trans has also been part of smart mobility projects such as the Dubai Bus on Demand, Ajman Bus on Demand and Abu Dhabi Link.
Much along the lines of its parent company IHC, EasyLease - listed on ADX's Second Market - too has grown through select acquisitions. The company's fleet strength extends to more than 25,000 vehicles, making it easily one of the bigger operators in the UAE.
"Through the acquisition of a majority stake in United Trans, EasyLease it seeks to establish synergies as well as build combined expertise to deliver enhanced mobility solutions to customers across the GCC and the broader MENA region," said a statement.
According to Ahmad Al Sadah, CEO of EasyLease, "At its core this partnership has set the stage for further strategic growth opportunities, paving the way for expansion and innovation in the transportation industry.”
As for IHC, it became the most valuable listed holding company in the Middle East with a market cap of Dh876 billion as of end December last.
