Emirates Driving Acquires Minor Stake in Mwasalat Holding
Emirates Driving Company, listed on the Abu Dhabi Securities Exchange (ADX) on Monday announcd that it has agreed to acquire a 22.5% stake in Mwasalat Holding LLC, with the option to increase its shareholding to 50.6%, subject to completion of certain conditions and relevant regulatory approvals.
Mwasalat Holding is an Abu Dhabi headquartered-based group of companies that that work to make it easier, faster and more convenient for commuters to get around by providing them with transportation options that are dependable, cost-effective and environmentally conscious enhancing the daily lives of all the urban residents.
Mwasalat Holding, operates a diverse fleet spanning public buses, taxis, school transportation, and corporate vehicle services. The move is part of Emirates Driving’s ongoing efforts to achieve significant expansion and enhance its distinguished services.
This strategic investment is part of the company’s ongoing efforts to strengthen its position as a mobility champion, accelerating innovation, and expanding its role in delivering seamless, safe and sustainable transport across the UAE and wider region, Emirates Driving said in a disclosure with ADX this morning.
Emirates Driving CEO Khalid Al Shemeili said that this investment aligns with the company’s long-term strategy to create operational synergies, enhance profitability, and endorse its commitment to delivering innovative, safe, and sustainable mobility solutions.
Founded in 2000, Emirates Driving Company is the leading provider of driving education in Abu Dhabi and a trusted government partner in delivering pre-licensing education programs. The company is dedicated to implementing advanced training methodologies and digital innovations to provide high quality learning experiences aligned with road safety standards.
Mwasalat Holding Managing Director Omeir Al Mheiri said that the transaction marks the next chapter in Mwasalat’s journey as a leader in integrated mobility.
“By combining our shared commitment to smart mobility, sustainability, digital transformation and public service excellence, we will unlock significant opportunities to enhance service delivery, operational efficiency, and customer satisfaction. Together, we aim to redefine how mobility is experienced across the UAE and deliver significant value to the communities we serve,” Al Mheiri added.
This is the second investment made by Emirates Driving in the last six months. The company has acquired a 51% stake in the UAE-based Excellence Premier Investment LLC, parent company of the renowned Excellence Driving Centre.
The move also forms part of EDC’s strategic priorities where it is exploring sustainable growth through various opportunities locally and across the GCC as well as working to achieve national and international accreditation for excellence in driver education.
Financial Performance
Emirates Driving recorded record-breaking revenues of $139.69 million in 2024, marking a 44% growth compared with $96.94 million in 2023. This growth highlights the increasing demand for EDC’s services and its expansion in the market. Additionally, gross profit rose to $97.75 million, representing a 27% increase from $76.79 million in the previous year.
Regarding earnings before interest, taxes, depreciation, and amortization (EBITDA), the company achieved $95.30 350 million, reflecting a 21% increase compared with $78.69 million in 2023. This underscores the company’s operational efficiency and its ability to enhance profitability. Moreover, profit before tax rose to $84.41 million, up 16% from $72.7 million in 2023.
