Section one: Contracting authority
one.1) Name and addresses
NORTH EAST FINANCE (HOLDCO) LIMITED
Baltimore House, Abbots Hill
Gateshead
NE8 3DF
Contact
James Arkless
Telephone
+44 1914998552
Country
United Kingdom
Region code
UKC - North East (England)
Companies House
07000577
Internet address(es)
Main address
https://www.northeastfinance.org
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://www.northeastfinance.org
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
TENDER FOR CORPORATE FINANCE ADVISORY FRAMEWORK
Reference number
NEF2023.001
two.1.2) Main CPV code
- 66140000 - Portfolio management services
two.1.3) Type of contract
Services
two.1.4) Short description
North East Finance is inviting tenders from FCA registered corporate finance firms for appointment to a panel of firms, to provide corporate finance advisory support to us on the realisation of the remaining portfolio of the Finance for Business North East Fund, as well as a small number of older investments held in other group companies.
Advice will be sought from panel firms on particular transactions. This may include valuation work and/or undertaking sector research as well as sell-side mandates and transactional support.
Full details are given in the Invitation to Tender.
Closing date is 4 May 2023. However, interested parties are asked to register their interest as soon as possible by emailing james.arkless@nea2f.co.uk.
two.1.5) Estimated total value
Value excluding VAT: £400,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKC - North East (England)
two.2.4) Description of the procurement
We are inviting tenders from FCA registered corporate finance firms for appointment to a panel of firms, to provide corporate finance advisory support to the executive team and to assist us in realising the remaining assets in our investment portfolios.
This will include providing support and advice on equity exits and other transactions across the portfolio of North East Finance and its subsidiaries as well as group company The North East Regional Investment Fund Partner Limited (NERIF), acting for North East Finance or NERIF as investors.
Services required may include some or all of the following:
advice on valuations/ benchmarking of valuations, and support and general advice on specific transactions (daily/ hourly rate)
sector or company specific research (daily/hourly rate)
sell-side mandates (fixed fee for initial engagement + success fee on completion)
attendance at meetings of our investment sub-committee as required (daily/hourly rate).
We will allocate each project or transaction at our sole discretion to whichever member of the panel we consider best suited. The decision will be based on:
(a) value for money, given the size and nature of the transaction;
(b) any actual or potential conflict of interest that might arise; and
(b) any relevant specialist expertise or sector knowledge appropriate to the particular transaction.
The framework panel will be appointed for a period of three years from July 2023, with the possibility of extending to four years.
The Invitation to Tender gives full details of the information to be provided and of the evaluation process and criteria.
Expertise that bidders will need to demonstrate includes:
corporate finance experience with a focus on early stage private equity and venture capital, and an understanding of relevant regulatory issues;
investment transactions, asset sales/ exits from equity holdings in SMEs, follow-on investments and re-financing of portfolio businesses;
valuation of businesses, particularly start-up, early stage and growth SMEs with an emphasis on technology businesses; and
ability to develop creative corporate finance solutions.
two.2.5) Award criteria
Quality criterion - Name: 1) Specialist expertise and technical know-how / Weighting: 25%
Quality criterion - Name: 2) Track record of similar transactions within the team / Weighting: 25%
Quality criterion - Name: 3) Ability to deliver a high quality of client service / Weighting: 25%
Price - Weighting: 25%
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
36
This contract is subject to renewal
Yes
Description of renewals
Initial contract will be for 3 years from July 2023, with the possibility of extending by a further 12 months by mutual agreement.
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: Yes
Description of options
See above: additional 12 months by agreement
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.1) Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
List and brief description of conditions
Must provide confirmation and evidence of FCA registration
Must provide details of appropriate PI cover
Must provide answers to exclusion questions in Schedule 1 to the Invitation to Tender
three.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
three.2) Conditions related to the contract
three.2.3) Information about staff responsible for the performance of the contract
Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
four.1.3) Information about a framework agreement or a dynamic purchasing system
The procurement involves the establishment of a framework agreement
Framework agreement with several operators
Envisaged maximum number of participants to the framework agreement: 3
In the case of framework agreements, provide justification for any duration exceeding 4 years:
N/A
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: No
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
4 May 2023
Local time
12:00pm
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.7) Conditions for opening of tenders
Date
4 May 2023
Local time
1:00pm
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.2) Information about electronic workflows
Electronic invoicing will be accepted
Electronic payment will be used
six.4) Procedures for review
six.4.1) Review body
N/A
N/A
Country
United Kingdom