BlueFive Capital Acquires 49% Stake in LeasePlan Emirates
The Abu Dhabi-based private equity firm has acquired a minority stake in LeasePlan Emirates, which manages around 7,000 vehicles across the UAE.
BlueFive Capital, an Abu Dhabi-based private equity firm, has acquired a 49% stake in vehicle leasing and fleet management company LeasePlan Emirates through its BlueFive Reef PE Fund I.
The remaining 51% stake will continue to be held by Solutions+, a wholly owned subsidiary of Mubadala Investment Company. The minority stake was purchased from mobility company Ayvens, although financial terms of the transaction were not disclosed.
Established in 2006, LeasePlan Emirates operates a fleet of approximately 7,000 vehicles and provides leasing and fleet management services to corporates, government entities and individual customers across the UAE.
The deal marks BlueFive Capital's latest investment in the mobility sector. Earlier, the firm acquired a 49% stake in Massar Solutions from Abu Dhabi National Energy Company, with Solutions+ retaining a majority holding in that business.
BlueFive Capital currently manages approximately $4.4 billion in assets and operates offices in Abu Dhabi, London, Manama, Dubai, Muscat and Beijing.
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