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Hinson puts local relationships at the heart of PwC


Towards the end of last year, Phil Hinson returned to his PwC roots to take over the role of corporate finance lead for the firm’s South East region. Here he explains to The Business Magazine what the move means to him and why he believes PwC is best placed to offer local businesses the deals support they need


Hinson began his career with PwC in Milton Keynes in 1996, qualifying as a chartered accountant in 1999 and working with the firm’s corporate finance team in London. He then joined a mid- market private equity house, a move which has given him valuable insight into understanding issues from the client’s viewpoint.


Now, as he takes lead responsibility for deal origination and advising clients across the region on transactions, he is using his PE experience to his advantage, and is keen to demonstrate how PwC can add real value to its clients.


“For us, it’s about investing in relationships, making sure people know who we are and how we can help,” he said.


“We have three key differentiators – our local presence thanks to our network of seven regional offices; our deep sector expertise with relevant experience; and our international reach, which is increasingly important to clients looking to grow overseas or access international investors or acquirers.”


Hinson sits within the 100-strong regional deals team in the South East, helping businesses with anything from mergers and acquisitions, through to tax, debt advisory, due diligence and business recovery services, and he stresses the unified approach.


“Clients don’t necessarily understand the differences between our individual areas of expertise. Their deal opportunity may be one associated with growth or stressed situations – we’ll assemble the optimal deal team to assist,” he continued.


“We see ourselves as a multi-service firm, whereas some boutique firms can focus solely on the transaction; the size of our business and expertise means we can add value both before and after the deal, helping companies in the longer term with anything from integration, pricing strategies and working capital optimisation to cyber security.”


THE BUSINESS MAGAZINE – THAMES VALLEY – APRIL 2013


Sector expertise is an increasing differentiator. Across the firm, Hinson is able to call on colleagues with detailed knowledge of specific markets – from financial services and healthcare to telecoms and technology.


The recent appointment of Simon Russell, previously managing director and head of technology at independent corporate finance advisory firm Canaccord Genuity Hawkpoint, has further strengthened PwC’s telecoms, media and technology expertise.


“Part of my new role is to make sure I bring in relevant expertise whenever a client needs it,” he said. “I know that within PwC’s team of over 17,000 people, I can bring in someone who is an expert in whatever challenges, issues or opportunities are relevant to my clients. Sector credibility is very important, especially in this region with its strength in technology and telecoms.


“We often deal with life-changing events, such as the sale of a family business, and we know that people won’t make the decision to hire advisers like ourselves unless they know them. We are very committed to the region and that’s why we take time to build local relationships and invest in people for the long term.”


While he doesn’t forecast a major improvement in the economy for the year ahead – describing the current “sluggish” market as “the new normal” – Hinson does see opportunities for growth, making the point that PwC’s corporate finance business grew by 20% in the past year in the UK.


He acknowledges there is a perception that PwC is less interested in the SME market, but says this could not be further from the truth.


“As a business, much of our growth is being driven by our regional offices and our entrepreneurial private clients,” he said. “We are very interested in entrepreneurs and their businesses. Every company is important to us – regardless of size.”


www.businessmag.co.uk


Hinson says the strength of PwC’s international network is also increasingly important, both for companies who are looking to exploit new growth opportunities overseas, and for inward investors keen to take advantage of the weakening pound or the opportunity to export UK technology or brands to their own territories.


“When I left the firm in 2006, we were doing deals in around 11 countries. By last year it was over 60; genuine PwC people who understand the local markets and culture and help facilitate the seamless delivery of advice on cross- border transactions,” he said.


One of the most high-profile examples of this was PwC’s recent role in the acquisition of Premier Foods well-known Branston pickle brand, for £92.5m by Japanese client Mizkan Group. At the other end of the spectrum, PwC in Reading recently advised on NVM’s £3.5m private equity investment in Haystack Dryers.


As part of its commitment to the local market, PwC is sponsoring Management Team of the Year at the Thames Valley Deals Awards and has been a long-term sponsor of the Profit Track 100 Awards, in conjunction with The Sunday Times.


Details: Phil Hinson 0118-9383595 philip.a.hinson@uk.pwc.com www.pwc.co.uk/south-east


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