Awarded contract

Due Diligence Framework Agreement Lot 2 - Model Audit

  • Scottish National Investment Bank

F03: Contract award notice

Notice reference: 2024/S 000-009847

Published 26 March 2024, 3:06pm



Section one: Contracting authority

one.1) Name and addresses

Scottish National Investment Bank

1-North, Waverley Gate, 2-4 Waterloo Place

Edinburgh

EH1 3EG

Email

procurement@thebank.scot

Telephone

+44 7776549095

Country

United Kingdom

NUTS code

UKM75 - Edinburgh, City of

Internet address(es)

Main address

http://www.thebank.scot

Buyer's address

https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA30487

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

Due Diligence Framework Agreement Lot 2 - Model Audit

two.1.2) Main CPV code

  • 79400000 - Business and management consultancy and related services

two.1.3) Type of contract

Services

two.1.4) Short description

We are a mission-led development investment bank for Scotland, wholly owned by the Scottish Ministers on behalf of the people of Scotland. We have been established to operate commercially and are operationally independent from government. We invest in Scottish business, projects, and communities to deliver environment, social and financial returns for the people of Scotland. Our missions are at the heart of everything that we do. You can find out more about the Bank and our missions at our website www.thebank.scot.

The Bank are setting up a Framework Agreement to undertake Due Diligence on potential investments which we are considering making. The framework will offer the Bank an efficient, cost-effective, and streamlined approach for procuring external support and expertise to assist reactive and consistent delivery of Due Diligence as it is required.

The requirements are split into four Lots:

Lot 1 - Financial Diligence

Lot 2 – Model Audit

Lot 3 – Tax diligence

Lot 4 – Company Valuations

This particular Contract notice and tender exercise relates to Lot 2 - Model Audit.

Bidders who are interested in bidding for any of the other Framework Lots can do so by locating the respective PCS notices, all published on the same date.

two.1.6) Information about lots

This contract is divided into lots: No

two.1.7) Total value of the procurement (excluding VAT)

Value excluding VAT: £500,000

two.2) Description

two.2.2) Additional CPV code(s)

  • 66171000 - Financial consultancy services
  • 66120000 - Investment banking services and related services
  • 79212100 - Financial auditing services

two.2.3) Place of performance

NUTS codes
  • UKM - Scotland

two.2.4) Description of the procurement

The Bank are setting up a Framework Agreement to undertake Due Diligence on potential investments which we are considering making. The framework will offer the Bank an efficient, cost-effective, and streamlined approach for procuring external support and expertise to assist reactive and consistent delivery of Due Diligence as it is required.

The requirements are split into four Lots:

Lot 1 - Financial Diligence

Lot 2 – Model Audit

Lot 3 – Tax diligence

Lot 4 – Company Valuations

This particular tender exercise relates to Lot 2 - Model Audit.

Bidders who are interested in bidding for any of the other Framework Lots can do so by locating the respective PCS notices, which were all published on the same date with.

two.2.5) Award criteria

Quality criterion - Name: Delivery Methodology / Weighting: 30

Quality criterion - Name: Management Methodology / Weighting: 20

Quality criterion - Name: Management & Delivery Team / Weighting: 20

Price - Weighting: 30

two.2.11) Information about options

Options: No

two.2.13) Information about European Union Funds

The procurement is related to a project and/or programme financed by European Union funds: No


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

four.1.8) Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: Yes

four.2) Administrative information

four.2.1) Previous publication concerning this procedure

Notice number: 2023/S 000-031766


Section five. Award of contract

A contract/lot is awarded: Yes

five.2) Award of contract

five.2.1) Date of conclusion of the contract

1 March 2024

five.2.2) Information about tenders

Number of tenders received: 13

Number of tenders received from SMEs: 3

Number of tenders received from tenderers from other EU Member States: 13

Number of tenders received from tenderers from non-EU Member States: 0

Number of tenders received by electronic means: 13

The contract has been awarded to a group of economic operators: Yes

five.2.3) Name and address of the contractor

CubeLynx Limited

38 York Road

Northwood Hills

HA6 1JL

Telephone

+44 7986174682

Country

United Kingdom

NUTS code
  • UK - United Kingdom
The contractor is an SME

Yes

five.2.3) Name and address of the contractor

Henderson Loggie LLP

The Vision Building, 2 Greenmarket

Dundee

DD1 4QB

Telephone

+44 7795826008

Country

United Kingdom

NUTS code
  • UK - United Kingdom
The contractor is an SME

Yes

five.2.3) Name and address of the contractor

Azets

Exchange Place, , 3 Semple St,

Edinburgh

EH3 8BL

Telephone

+44 7584772261

Country

United Kingdom

NUTS code
  • UK - United Kingdom
The contractor is an SME

No

five.2.3) Name and address of the contractor

Steer

14 - 21 Rushworth St

London

SE1 0RB

Telephone

+44 2079105161

Country

United Kingdom

NUTS code
  • UK - United Kingdom
The contractor is an SME

No

five.2.3) Name and address of the contractor

Grant Thornton UK LLP

30 Finsbury Square

London

EC2A 1AG

Telephone

+44 2077283311

Country

United Kingdom

NUTS code
  • UK - United Kingdom
The contractor is an SME

No

five.2.4) Information on value of contract/lot (excluding VAT)

Total value of the contract/lot: £500,000


Section six. Complementary information

six.3) Additional information

(SC Ref:761689)

six.4) Procedures for review

six.4.1) Review body

Edinburgh Sheriff Court

Edinburgh

Country

United Kingdom