The award recognised FTSE 250 company Hill & Smith's growth through a pattern of targeted acquisitions primarily in the US.
The annual prize is awarded for the successful use of M&A to increase growth and shareholder value, and to outperform the market, using a methodology devised by the ICAEW Corporate Finance Faculty in partnership with Bayes Business School.
Hill & Smith PLC's fast-growing, higher-margin US businesses contributed over three quarters (76 per cent) of their operating profit in 2024, with acquisitions helping to drive growth.
Caroline Smale, ICAEW’s Deputy President and Henry Whorwood of the data firm Beauhurst, presented the award to Alan Giddins, non-executive Chair, Hill & Smith PLC, at an event held by the Institute’s Corporate Finance Faculty at Goldsmiths' Hall yesterday.
In addition, Caroline Smale and Alistair Brew, of the BGF and chair of the Corporate Finance Faculty, also presented awards to the top performing students, Darcy Byrne, ECOVIS Wingrave Yeats and Olivia Keyter, Crowdcube, in recent examinations in the ICAEW/CISI Diploma in Corporate Finance.
David Petrie, ICAEW Head of Corporate Finance, said:
“Hill & Smith PLC are worthy winners of this year's ICAEW Corporate Development Award, and I would like to congratulate them on their use of M&A in growing their business, and in winning this award.
“With the uptick in M&A this year, Hill & Smith's strategy of pursuing growth through M&A has proven to be highly profitable for them and very well-regarded by the City. Local manufacturing and continued demand in the US have provided a natural hedge against sanctions and the other supply chain issues which have impacted so many other companies around the world.”
Alan Giddins, non-executive Chair, Hill & Smith PLC, said:
“I am delighted to accept this ICAEW award on behalf of everyone at Hill & Smith. M&A has been a key growth driver for the Group. Our decentralised operating model means that we are an excellent home to owner managed businesses, and this award is recognition of our ability to effectively source, execute and integrate businesses into the Group.”
ENDS
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