LONDON, UK, 23 February 2023 – RS Group plc (LSE: RS1), a global omni-channel provider of product and service solutions, has won the annual ICAEW Corporate Development Award for increasing shareholder value through its M&A activity following strategic market acquisitions. The presentation took place at an event to mark 25 years of the ICAEW’s Corporate Finance Faculty.
The annual prize recognises companies for their 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.
David Petrie, Head of Corporate Finance, ICAEW, said: “RS Group’s strategic acquisitions, and the value these have created, demonstrates what M&A is all about and I congratulate them for their win. Their success - despite the challenging economic circumstances - shows that there is still cause for optimism and deals are very much still being made.
Lord Leigh of Hurley presented the award to RS Group’s Chair Baroness Rona Fairhead and acting CEO, David Egan. Commenting on the award, David Egan said: “It is an honour to be recognised by ICAEW for our M&A activity – particularly given previous recipients of the award. The quality of our acquisitions reflects the strength of our clear selection criteria and strong disciplined approach, ensuring our M&A focuses on three key areas to accelerate our organic growth.
“Finally, we could not have achieved this recognition without the huge effort between our Corporate Development team, businesses and functions, who are committed to achieving our vision of being first choice for all our stakeholders, including generating long-term sustainable value for our shareholders.”
Previous winners of the Corporate Development Award have included the London Stock Exchange Group, Weir Group and Intertek.
RS Group plc is a leading global omni-channel industrial product and service solutions provider to customers who are involved in designing, building and maintaining industrial equipment and operations, safely and sustainably. We stock more than 700,000 industrial and electronic products, sourced from over 2,500 leading suppliers, and provide a wide range of product and service solutions to over 1.2 million customers. With operations in 32 countries, we trade through multiple channels and ship over 60,000 parcels a day.
We support customers across the product life cycle, whether via innovation and technical support at the design phase, improving time to market and productivity at the build phase, or reducing purchasing costs and optimising inventory in the maintenance phase. We offer our customers tailored product and service propositions that are essential for the successful operation of their businesses and help them save time and money.
RS Group plc is listed on the London Stock Exchange with stock ticker RS1 and in the year ended 31 March 2022 reported revenue of £2,554 million.