GFH Financial Group (GFH) has announced the acquisition of a 60 per cent majority stake in Byrne Equipment Rental, a leading GCC industrial services provider, in a deal valued at approximately $400 million including investment and capex programmes.
Founded in 1992, Byrne operates 14 offices and a network of depots across Bahrain, Kuwait, Oman, Saudi Arabia and the UAE.
The company boasts a fleet of 16,000 units and serves more than 1,100 blue-chip clients in sectors including oil and gas, construction and events.
The acquisition aims to capitalise on the GCC’s double-digit growth in the equipment rental market, fuelled by regional megaprojects and national development programmes like Saudi Vision 2030.
“Byrne is a resilient, market-leading platform operating at the centre of the region’s most dynamic sectors,” said GFH Group chief investment officer Hammad Younas. “We aim to accelerate its growth trajectory and expand its footprint across strategic GCC markets.”
Byrne’s operations span 153,000sqm, including a flagship logistics hub in Jubail, Saudi Arabia. The company reported 20pc profit growth last year and provides “one-stop-shop” solutions ranging from temporary power to modular buildings.
Patrick Fallon, deputy chief executive of Byrne Equipment Rental, added: “Partnering with GFH opens significant new opportunities. Their regional scale and investment experience will enable us to strengthen our service offerings and deploy more advanced solutions.”
The move aligns with GFH’s strategy of investing in mission-critical businesses that support regional economic diversification.
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