# Itqan Investments, VPower Group and CITIC Pacific acquire Byrne Equipment Rental

Itqan Investments, VPower Group and CITIC Pacific have acquired Byrne Equipment Rental LLC, a GCC rental equipment supplier, for approximately AED 1 billion. The deal includes Spacemaker, Byrne Technical Services and Byrne Medical Equipment Rental.

- Type: Acquisition
- Announced: 2018-04-24
- Where: Dubai, UAE, United Arab Emirates
- Value: $272.0M (1.00B AED)
- Status: completed
- Products: rental equipment, power generation solutions
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Itqan Investments](https://endata.com/companies/31501.md) (acquirer)
- [VPower Group](https://endata.com/companies/31502.md) (acquirer)
- [CITIC Pacific](https://endata.com/companies/31503.md) (acquirer)
- [Byrne Equipment Rental](https://endata.com/companies/31504.md) (target)

## Sources

- [zawya.com](https://www.zawya.com/en/press-release/itqan-investments-vpower-group-and-citic-pacific-join-hands-in-acquiring-byrne-group-sc958ibd), 2018-04-24: "The acquisition will support Byrne’s plans to grow into the Asian market and replicate the success the company has already achieved in the GCC region, and tap into a wider scope of power generation solutions in the GCC region."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.