Raymond Doherty 13 Oct 2017 01:02pm

Rentokil Initial wins ICAEW corporate development award

The British services group won the award for its pioneering work on increasing shareholder value

The award was received by Chris Hunt, group M&A director at Rentokil Initial, at the ICAEW Corporate Finance Faculty annual reception, held in London’s Lancaster House last night.

The award recognises a London-listed company whose strategy has made the most effective use of M&A to grow and increase shareholder value. Rentokil has delivered total shareholder return of over 200% over the last four years.

“M&A is one of our core levers to drive profitable growth and at the heart of our strategy to increase our presence in higher growth markets and businesses - in pest control in particular. Since the start of 2014, we have acquired over 110 companies in our growth and emerging markets, while disposing of lower margin businesses,” said Hunt.

David Petrie, ICAEW head of corporate finance, said, “We know that businesses are facing uncertainty, but it is vital that dynamic businesses are continuing to drive forwards and grow."

He said Rentokil’s success was “testament to what hard work and expert advice can achieve".

"Rentokil is a world-beating company which has engaged with several major international deals.”

The keynote speech at the event, hosted also by Mark Pacitti, chairman of the faculty, was given by Ruth McKernan, chief executive of Innovate UK, which has supported 8,000 enterprises since 2010 and invested £1.5bn.

Charalampos Marinos of Eurobank, Faris Maqdah of Atkins Acuity, and Nick Hawkins of Grant Thornton were commended for being the most successful students from each of the two most recent sittings of the diploma in corporate finance.

Micro Focus, a global enterprise software company, won the award last year.