Hill & Smith is a group of engineering steel stock holding and building products businesses. It is a fully listed company. In March 1998, CBPE acquired a significant minority shareholding backing David Grove, a member of CBPE's serial entrepreneur group, who joined the board of Hill & Smith as chief executive. David Grove implemented a successful turnaround of the group and in 2000 bought Ash & Lacy, a struggling engineering group. Significant merger benefits were realised and in April 2004, CBPE placed its shareholding at a profit.