Acquisitions are a powerful tool in the corporate armoury. Whether it is entering a new market, adding new products or technologies, or gaining efficiency through scale, few companies prosper in the long term without some M&A activity.

In this annual review by Corporate Financier, we look at the UK’s most acquisitive companies. The top 10 (see right) may not be household names, but Unilever, Smith & Nephew and SportsDirect are in the top 20.

Most of the companies that completed more than 10 deals last year were consolidators, with the top spots going to Independent Vetcare and VetPartners. Both were started by August Equity. The influence of private equity is clear, with EQT and BC Partners respectively now behind the strategies at both vet businesses.

AIM-listed groups AFH Financial and Begbies Traynor have both expanded rapidly through acquisition. Dentsu Aegis, a UK-headquartered network of marketing and advertising agencies ultimately owned by Dentsu of Japan, is the sole corporate to complete more than 10 acquisitions last year. The importance of advisers in putting deals together is clear.

Find out which companies rank in the Top 10, and read a summary of the Top 5 here.