LMCLuxury Hospitality
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11 months (LMC + IRM integrated)2023-2024
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LMCInfrastructure
From family-owned holdings to institutional-grade investment readiness in 14 weeks
A Riyadh-based diversified infrastructure group (SAR 400M+ annual revenue)
14 weeks2024
SAR 180M
Capital raised
14 wk
Programme duration
2
Institutional investors
36 mo
IPO trajectory set
The Challenge
What the client brought us
A family-owned infrastructure group that had compounded quietly for thirty-five years arrived at the edge of a generational transition with ambitions that outstripped its institutional scaffolding. The second generation wanted to participate in the Vision 2030 capital cycle — utilities contracts, urban infrastructure packages, and co-investment opportunities alongside PIF portfolio companies — but the group had been run, profitably, as a private concern. There was no ERP. Three years of financials existed as reconstructed spreadsheets rather than audited statements. Board governance was a family lunch. No strategic plan documented the expansion thesis. Institutional capital partners who were interested in the sector would take the first meeting, review the data room, and politely step away. The group was capital-worthy but not capital-ready — and the window for Vision 2030-aligned positioning was already narrowing.
Our Approach
How IDR executed
Rabie and two IDR consultants embedded on-site three days per week for fourteen consecutive weeks. The work ran across four IDR practices in parallel rather than in sequence. Strategy built a three-year expansion plan anchored to specific Vision 2030 utility and urban infrastructure programmes. Finance audited three prior years of statements with a Big Four signatory, built the investor-grade financial model, and designed the capital structure. Operations installed a board governance framework with independent directors identified and onboarded. Commercial prepared the English-and-Arabic pitch pack, teaser, and full information memorandum. In parallel, IRM opened introductions to two Gulf-based family offices and coordinated courtesy meetings with PIF portfolio company procurement leads. By week six the company was already running investor conversations it could not have held the previous October.
The Outcome
What the work delivered
Within four months of programme close, the group secured SAR 180M in growth financing from two institutional investors — one Gulf family office and one regional private equity firm — both of which cited the professionalised financial reporting and board governance as decisive. The ERP implementation timeline, originally scoped at eighteen months, compressed to nine on the back of the operating-model work done during the engagement. The group is now on a documented thirty-six-month IPO readiness trajectory, with quarterly board reporting, audited statements, and an investor-relations cadence already in place. IDR remains engaged as a quarterly governance advisor.
IDR compressed what felt like a 3-year corporate transformation into 14 weeks. By week 6 we were already having investor conversations we could not have had in October.
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