The acquisition comes as GFH Financial Group expands in the region’s equipment rental sector

DUBAI, UAE, 3 February 2026:

Byrne Equipment Rental said it welcomes GFH Financial Group’s announcement that the Group has acquired a majority stake in the company.

Making the announcement through a Press Release, Byrne said GFH has completed the acquisition of the stake as part of an investment and capex programme valued at approximately USD 400 million, adding that the acquisition positions the company to support the region’s growing project and infrastructure landscape.

Byrne said it was founded in 1992 in Dubai and has evolved into a regional operator with a fleet of approximately 16,000 units. The company said it operates through 14 offices and depots across Bahrain, Oman, Saudi Arabia and the UAE, spanning more than 153,000 m

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. Byrne said this includes its Jubail depot in Saudi Arabia, which it described as one of the largest logistics and operations hubs of its kind in the country. The company said it delivered approximately 20% growth last year and is positioned to continue this trajectory.

Byrne said it serves a client base of more than 1,100 customers across the GCC region and that its services support sectors including oil and gas, construction, utilities and events, with core capabilities covering temporary power, modular buildings, compressors, material handling equipment, mobile lighting solutions and other assets required for large-scale operations.

Byrne said the GCC region equipment rental market continues to expand at double-digit rates driven by the oil and gas sector, national development programmes, industrial growth and major events, particularly in Saudi Arabia. The company said it is positioned to benefit from this momentum through its management team and operational track record. Byrne added that with GFH’s support it plans to enter new verticals, enhance its product range and deepen its presence in priority markets. Byrne said the partnership will also leverage the technical strengths of its operating partners.

Hammad Younas

Commenting on the acquisition,

Hammad Younas, Group Chief Investment Officer, GFH, said: “Byrne is a resilient platform operating at the center of the region’s most dynamic sectors. Its operational scale, strong customer relationships, and technical abilities make it exceptionally well placed to benefit from the substantial pipeline of regional megaprojects. Through this acquisition of a 60% stake, we aim to accelerate Byrne’s growth trajectory and expand its footprint across strategic GCC region markets, including the UAE and Saudi Arabia, where demand for high-quality industrial and rental solutions continues to rise.”

Patrick Fallon

Patrick Fallon, Deputy CEO, Byrne, said: “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. This next phase of growth allows us to support national development programs across the GCC region even more effectively, including major projects underway in the UAE and Saudi Arabia.”

Byrne said the acquisition aligns with GFH’s strategy of investing in mission-critical businesses that contribute to regional economies and support programmes such as Saudi Arabia’s Vision 2030 and the UAE’s “We the UAE 2031” Vision. Byrne said the transaction underscores GFH’s commitment to building sector-focused platforms in high-growth markets.