LUMINA Expands into Saudi Arabia

We are delighted to take the next step in our wider expansion strategy across the Middle East and the UK with our expansion into Saudi Arabia. The appointment of Andrew Nichol, ex-PwC Corporate Finance Head of Saudi Arabia, anchors our expansion strategy into the Kingdom and enables LUMINA to link three major markets – Saudi Arabia, UAE, and the UK – for capital flows and M&A deals.   

Rick Pudner, Executive Chairman, reaffirmed the strategy: “The firm has a niche specialism within family business M&A and corporate finance, and we have seen significant demand across the Middle East region for senior level, on-the-ground corporate finance advisory services. With the addition of Saudi Arabia, and our recent UK presence, we are delighted to have progressed so quickly toward our goal of linking Saudi Arabia, the UK and the UAE for our clients.

With the KSA market undergoing an intense period of social and economic transformation, investors have identified the long-term growth potential of the Kingdom. KSA’s economic agenda aims to raise the private sector contribution from 45% to 60% of GDP, which will drive M&A activity across the Kingdom. As many inbound KSA deals closed in the first four months of 2018 as they did in the whole of 2017, with healthcare and industrial leading the way in transaction activity driven by more reasonable valuations, and the need to dispose of non-core assets. 

Commenting on LUMINA’s strategy in KSA, Andrew Nichol, Partner, said: “KSA’s ambitious Vision2030 plan will, ultimately, impact almost all aspects of socio-economic life within the Kingdom. It will transition the country away from oil dependence and into a global trade and commerce centre, linking Europe, Asia and Africa. In doing so, a diverse range of partnership and investment opportunities in the Kingdom are being created. Corporates, financial institutions and investors alike demand high quality advice as they verify their KSA strategies and pursue these opportunities. I look forward to continuing to identify and execute transactions for our clients by connecting inward global investors and helping our KSA clients achieve their objectives internationally.”  

George Traub, Managing Partner of Lumina concluded: “Mid-market businesses and family conglomerates want direct experience in their geographies. They expect a deep market understanding alongside practical, executable solutions and that is exactly what we provide. I am confident that with Andrew’s significant on-the-ground transaction experience in the Kingdom we will be able to offer our clients an even more comprehensive regional offering.” 

Andrew Nichol served as Head of Corporate Finance for PwC in Saudi Arabia. He also worked in roles at Standard Chartered Private Equity, NBK Capital, KPMG in the UK and in an advisory capacity to the UKTI (UK Trade and Investment) now known as DIT (Department for International Trade) advising the UK Government on trade deals from KSA into the UK. 

LUMINA maximises value for mid-market private companies in the Middle East by delivering innovative corporate finance solutions. Regulated by the Dubai Financial Services Authority, LUMINA provides services focused on M&A, equity capital, debt advisory and infrastructure project financing. The firm’s team of experienced and specialized corporate finance professionals bring senior level international expertise to owner managed and private company transactions in the region.