Saudi Arabia-based asset rental and leasing company Hanco has acquired Saudi Arabia-based rental company Byrne Investments and its subsidiary companies, Byrne Equipment Rental and Spacemaker, from MENA-focused private equity firm Havenvest Private Equity and financial services provider HSBC Bank Middle East for a total transaction value of AED600 million (approximately US$163 million). Islamic investment bank Venture Capital Bank joined Hanco in the acquisition, acquiring a 25 percent stake in Byrne. The transaction was partly financed by First Gulf Bank.