The Corporate Finance Faculty hosted its annual evening event on 17 November, bringing together members and guests from across corporate finance for an evening of celebration, networking and inspiration.
The venue
This year the gathering of corporate financiers took place at The Guildhall, a 2000 year-old home to the City of London Corporation, which continues to play host to royal, national and international occasions, such as HM The Queen’s 90th birthday celebrations, state visits, and the annual Lord Mayor’s Banquet since 1502.
The welcome
The evening started with a warm welcome from David Franklin, Deputy CEO and CFO at ICAEW. He affirmed ICAEW’s commitment to the Corporate Finance Faculty and to the Annual Reception, an evening highly valued by its members as a vital opportunity to strengthen relationships, exchange ideas and bring the corporate finance community together.
Alistair Brew, Chair of the Advisory Board of the Corporate Finance Faculty (and also Regional Investment Partner at the Business Growth Fund), then took to the stage to remind Faculty members that during another year of AI and geopolitical tensions facing the M&A ecosystem, the Faculty team has remained committed to its purpose: supporting members with high-quality insight, policy representation and technical guidance to help their members navigate whatever conditions the market presents.
Alistair Brew, Chair of the Advisory Board of the Corporate Finance Faculty (and also Regional Investment Partner at the Business Growth Fund), then took to the stage to remind Faculty members that during another year of AI and geopolitical tensions facing the M&A ecosystem, the Faculty team has remained committed to its purpose: supporting members with high-quality insight, policy representation and technical guidance to help their members navigate whatever conditions the market presents.
The inspiration
The evening featured guest speaker, Antonia Jenkinson, Chief Financial Officer of Oxford Science Enterprises, a £1.3 billion independent investment company that funds and builds deep tech, health tech and life science companies emerging from the University of Oxford.
Over the past 13 years, Antonia has worked in some of the UK's leading science and technology organisations. She began in the space sector at Harwell, before moving to the UK Atomic Energy Authority at Culham. Most recently, she was a co-founder of the Advanced Research + Invention Agency where she designed the funding and investment mechanisms underpinning the agency's £1.2 billion budget.
Over the past 13 years, Antonia has worked in some of the UK's leading science and technology organisations. She began in the space sector at Harwell, before moving to the UK Atomic Energy Authority at Culham. Most recently, she was a co-founder of the Advanced Research + Invention Agency where she designed the funding and investment mechanisms underpinning the agency's £1.2 billion budget.
The celebration
The Corporate Development Award
This year’s Corporate Development award was awarded to Diploma Plc, FTSE 100 company founded in 1999 and based in London. It supplies specialised technical products and services in the United Kingdom, Europe, North America, and internationally. It operates through three business sectors: Controls, Seals, and Life Sciences. Its website describes itself as the company that ‘provides the bolts that hold planes and race cars together, design the seals that make wind turbines work and help surgeons find the best solutions to deliver better patient outcomes.’
Every year the annual prize is given to the public company which has added the most to shareholder value through mergers and acquisitions (M&A) in the last year, using a methodology devised by the ICAEW Corporate Finance Faculty in partnership with Bayes Business School.
This year’s winner, Diploma Plc, completed seven acquisitions since the start of its 2025 financial year, with a disciplined valuation approach of keeping the multiple at an average of around 8x of earnings to maximise returns on capital. These small, targeted acquisitions were aimed at deepening its positions in high-growth niche areas, particularly aerospace, defence and in-vitro diagnostics (IVD).
Its growth model is one of strong organic growth with disciplined M&A to accelerate returns in high growth niche sectors they play in.
In an interesting acceptance speech, Steven Sargeant, Corporate Development Director at Diploma Plc said: “I am delighted to accept this ICAEW award on behalf of everyone at Diploma and …” He outlined that even though they’re a UK PLC, over half of their revenue is generated in the US, and that's where a lot of their opportunities to invest lies[KJ1.1][RE1.2].
The award was presented to Steven of Diploma by Alistair Brew, Chair of the faculty’s Advisory Board.
ICAEW/CISI Diploma in Corporate Finance
The two prize winners for the highest scores in the ICAEW/CISI Diploma in Corporate Finance – James Portman (at Clairfield) and Sukhdeep Mahil (at S&W) - received their prizes from Neil Cutting, Vice President of ICAEW.
Outstanding contribution award
David Petrie (head of corporate finance at ICAEW until August this year) was recognised by the Corporate Finance Faculty Advisory Board and by ICAEW for his outstanding dedication to the faculty and to ICAEW for more than 15 years.
With more than 80 member firms and up to 10,000 members, the Corporate Finance Faculty is one of the largest and broadest networks of M&A lead advisers, corporate lawyers, other advisers on the deal process and investors in the UK. The faculty reached this position under the leadership of David. Prior to joining ICAEW, David was a director in corporate finance and mergers and acquisitions at PwC, advising on transactions, principally in the mid-markets, including private equity buy-outs, company sales and some infrastructure transactions. And before that he had a career in industry.
With more than 80 member firms and up to 10,000 members, the Corporate Finance Faculty is one of the largest and broadest networks of M&A lead advisers, corporate lawyers, other advisers on the deal process and investors in the UK. The faculty reached this position under the leadership of David. Prior to joining ICAEW, David was a director in corporate finance and mergers and acquisitions at PwC, advising on transactions, principally in the mid-markets, including private equity buy-outs, company sales and some infrastructure transactions. And before that he had a career in industry.
The connections
As always, the notable highlight of the evening was the opportunity for our members and their guests to network with colleagues and industry leaders, engaging in meaningful discussions within a beautiful setting enhanced by champagne and canapés.
It was a delight to see and feel the buzz in the room. The pictures speak for themselves…
It was a delight to see and feel the buzz in the room. The pictures speak for themselves…
About the annual reception
The Corporate Finance Faculty Annual Reception is one of ICAEW’s best attended in-person evening events. It has established an enviable reputation as the leading event of its kind, bringing together advisors, principal investors, policy makers and academics from across the City. The reception provides an ideal platform for attendees to connect with industry peers, share experiences, establish valuable contacts and potentially, to win new work or source investment opportunities.