Mubasher: GFH Financial Group has purchased a 60% stake in Byrne Equipment Rental LLC, a leading GCC industrial services and equipment rental provider, with an investment and capital expenditure program valued at around $400 million.
This acquisition is part of GFH’s strategy to invest in mission-critical businesses supporting the region’s expanding infrastructure, according to a press release.
It will enable Byrne to enter new verticals, expand its product offerings, and deepen its market presence, while leveraging its experienced management team and operational expertise to maintain a competitive edge in the region.
Hammad Younas, the Chief Investment Officer of GFH, said: “Through this acquisition of a 60% stake, we aim to accelerate Byrne’s growth trajectory and expand its footprint across strategic GCC markets, including the UAE and Saudi Arabia, where demand for high-quality industrial and rental solutions continues to rise.”
For his part, Patrick Fallon, the Deputy CEO of Byrne Equipment Rental, commented: “Partnering with GFH opens significant new opportunities for Byrne.”
“Their regional scale, investment experience, and long-term commitment will enable us to strengthen our service offerings, deploy more advanced solutions, and continue delivering the reliability and operational excellence our clients expect,” the CEO added.
Founded in 1992, Byrne operates a fleet of around 16,000 units across 14 offices and a network of depots in the UAE, Saudi Arabia, Oman, and Bahrain, including its flagship Jubail depot, one of Saudi Arabia’s largest logistics hubs.
The company reported approximately 20% growth in profitability last year and serves over 1,100 blue-chip clients across key sectors, including oil and gas, construction, utilities, and events. Its services include temporary power, modular buildings, compressors, material handling equipment, and mobile lighting solutions
Moreover, the GCC equipment rental market is growing at double-digit rates, fueled by industrial expansion, major national projects, and sector-specific demand, particularly in Saudi Arabia.
In January 2026, GFH inked a non-binding memorandum of understanding (MoU) with AlKhaleej Training and Education Company to explore merging their education assets.
