Company: Borrow A Boat, KellyBoat
Business Type: Boat Hire
UK & International Business Sales and M&A News
UK boat hire and charter marketplace Borrow A Boat has bought US-based peer-to-peer yacht charter platform KellyBoat, as it seeks to expand within the US market.
In a statement, Borrow A Boat says the acquisition of KellyBoat, a New England-based yacht charter platform founded by Kelly Lyden, will continue its growth strategy in the US, which to date is the fastest growing market for the company.
The yacht charter marketplace Borrow A Boat, which was founded in 2017 by Matt Ovenden, now offers boat charters in over 65 countries and, with this latest acquisition, will see US boat hires focussed on New England and Palm Beach.
The company says Lyden’s expertise will allow them to add more vessels in New York, Chesapeake Bay, Cape Cod, Rhode Island, Fort Lauderdale, and Miami, plus the Great Lakes. Customers can currently choose from a variety of vessels, including sailboats, motorboats, riverboats, RIBs, catamarans, gulets, luxury yachts and superyachts.
Lyden commented:
“Borrow A Boat has been recognised as a fast-moving, innovative leader in the global boat hire market. As its first US acquisition, we’re excited to bring their boundless energy and successful technology to the US market.”
Kelly Lyden - Founder of KellyBoats
Matt Ovenden, founder and CEO of Borrow A Boat, said:
“The combination of Kelly’s local knowledge and our technology gives us a powerful platform to grow in the US, and we have aggressive growth targets as we see it as a key market for Borrow A Boat.
“Since launching in America last year, we’ve experienced unrivalled interest from the US boating audience who have well and truly got on board with the Borrow A Boat offering, enabling it to become one of our fastest growing markets worldwide.
“We’re now looking toward the future of our US foothold, including further plans for expansion, and eyeing up additional acquisitions.”
Matt Ovenden – Founder and CEO of Borrow A Boat
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