Bahrain bank acquires 60% of Byrne Equipment Rental

Bahrain-based financial company BFG Financial Group has acquired a 60% stake in Byrne Equipment Rental LLC, one the largest rental businesses in the Middle East.

BFG takes over as majority owner from the consortium of VPower, CITIC Pacific and Itqan Investments who invested in Byrne in 2018. The terms of the deal have not been released.

The new owner said it would accelerate Byrne’s growth, with a focus on “entering new verticals, enhancing its product range, and deepening its presence in priority markets.”

Solar powered site cabins supplied by Byrne Equipment Rental. (Image: Byrne)

Hammad Younas, group chief investment officer at 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.”

He said Byrne’s scale, customer relationships and technical capabilities “make it exceptionally well placed to benefit from the substantial pipeline of regional megaprojects.”

GFH said Byrne has grown its revenues by 20% in 2025 “and is strongly positioned to continue this growth trajectory.”

Byrne comment

Patrick Fallon, the deputy CEO of 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 even more effectively, including major projects underway in the UAE and Saudi Arabia.”

GFH described Byrne as having “an investment and capex programme valued at approximately US$400 million”.

Hammad Younas, group chief investment officer at GFH. (Image: Byrne Equipment)

The new majority owner manages assets and funds of more than $22.5 billion and is active in investment management, commercial banking and treasury investments.

It is focused on the GCC region (the Gulf Cooperation Council comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE) as well as North Africa and India. It also has some investments in the US, EU and UK. GFH is listed on the Bahrain Bourse, Abu Dhabi Securities Exchange, Boursa Kuwait and Dubai Financial Market.

Patrick Fallon, Deputy CEO of Byrne Equipment Rental. (Image: Byrne)

Founded in 1992 in Dubai, Byrne has a fleet of approximately 16,000 units and has 14 offices and depots in the UAE, Saudi Arabia, Oman and Bahrain, including the “flagship Jubail depot”.

Byrne serves sectors including oil and gas, construction, utilities and events. Its core fleet includes temporary power, modular buildings, compressors, material handling equipment and mobile lighting.