Hill & Smith PLC has been presented with the annual ICAEW Corporate Development Award in recognition of its remarkable growth, driven by a strategic series of acquisitions across the US and international markets.

The FTSE 250 engineering firm, which has continued to build on its roots in traditional metal fabrication and galvanised steel products, received the accolade at an event held by the Institute’s Corporate Finance Faculty at the beautiful Livery Hall at the headquarters of Goldsmiths’ Company in London yesterday.  

The award ceremony also featured a keynote address from private equity veteran and prolific angel investor Jon Moulton CBE who called for a reduction in the regulatory burden placed on entrepreneurs and UK listed companies. 

Creating sustainable infrastructure

Acquisitions have long been a core element of Hill & Smith’s growth strategy, executed by entrepreneurial management teams supported by a large, well-capitalised Group.  

Hill & Smith PLC’s fast-growing, higher-margin US businesses contributed over three quarters of its operating profit in 2024, with previous acquisitions also helping to drive growth. The company aims to complete several transactions each year, aligned to its purpose of creating sustainable infrastructure and safe transport through innovation. 

Alan Giddins, formerly European head of private equity at 3i Group plc and now non-executive Chair at 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.”  

The annual prize recognises a London-listed company for its successful use of M&A to increase growth and shareholder value and outperform the market, using a methodology devised by the ICAEW Corporate Finance Faculty in partnership with Bayes Business School. The award was presented to Hill & Smith PLC by Caroline Smale, ICAEW’s Deputy President, and Henry Whorwood of the data firm Beauhurst. 

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 global growth through acquisition 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.” 

More congratulations

Meanwhile, Darcy Byrne and Olivia Keyter were recognised for achieving the highest scores in the ICAEW/CISI Diploma in Corporate Finance. Their prizes were presented by the Corporate Finance Faculty's Chair and Head of Investment Operations at BGF, Alistair Brew, along with Caroline Smale. 

Sue Nyman was also presented with the Outstanding Contribution Award in recognition of more than 25 years of dedicated service to the Corporate Finance Faculty and ICAEW. Nyman, who retires from Grant Thornton at the end of the year, was a longstanding member of the faculty’s Technical Committee, among many other working groups at ICAEW.

• Read more about the Corporate Finance Faculty's Annual Reception 2025