Tender

SC21072 Equity Services

KENT COUNTY COUNCIL

This public procurement record has 1 release in its history.

Tender

18 Feb 2022 at 14:56

Tender Notice
Summary of the contracting process

The procurement process titled "SC21072 Equity Services" is initiated by Kent County Council, the largest local authority in England, located in Maidstone, UK. This tender falls under the financial and insurance services category and is currently at the award stage after being published on 18 February 2022. The procurement method used is an open procedure, with a total contract value of £180,000. The contract period is from 1 June 2022 to 31 May 2025, and it specifically targets organisations that can assist businesses in receiving equity investments from the Bespoke Equity Fund portfolio, with key deliverables expected by March 2024.

This tender presents significant growth opportunities for small and medium-sized enterprises (SMEs) and voluntary, community and social enterprises (VCSEs), particularly those with expertise in financial advisory services and business support for investment portfolios. Businesses that can provide effective communication and management support to enterprises receiving equity investments will be well-suited to compete for this contract. Engaging in this procurement could enhance their profiles and contribute to the economic development of Kent, helping to create and protect jobs while maximising the overall value of investments.

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Notice Information

Notice Title

SC21072 Equity Services

Notice Description

Kent County Council (the Council) is the largest local authority in England covering an area of 3,500 square kilometres. It has an annual expenditure of over PS1bn on goods and services and a population of 1.6m. The Council provides a wide range of personal and strategic services on behalf of its residents, operating in partnership with the NHS Kent and Medway Clinical Commissioning Group, 12 district councils, and 289 parish/town councils. The Council consists of four directorates: Adult Social Core and Health Children, Young People and Education Growth, Environment and Transport Strategic and Corporate Services This service is being commissioned on behalf of the Growth, Environment and Transport directorate. This activity supports Kent County Council's Interim Strategic Plan by helping to deliver the Kent and Medway Economic Renewal and Resilience Plan, more specifically delivering essential support for local businesses. KCC has taken equity stakes in a number of companies via investments from the former Regional Growth Fund (RGF) schemes (Expansion East Kent, Tiger and Escalate), the Kent and Medway Business Fund and the SELEP funded Innovation Investment Scheme, known as Bespoke Equity Fund (BEF) portfolio and is seeking to procure a delivery partner to support, advise and assist these companies, with a PS70,000 excluding vat gross per annum budget funded by KCC for the financial period until March 2024. Procurement will be undertaken in compliance with the Public Contract Regulations 2015. The council is looking to procure a delivery partner to work on behalf of KCC to support, advise and assist businesses in receipt of equity investments within the Bespoke Equity Fund (BEF) portfolio, to help them grow, increase productivity, create/protect jobs and maximise the value of the sale and/or transfer of Kent County Council owned shares. The BEF portfolio consists of equity investments from the former Regional Growth Fund schemes (Expansion East Kent, Tiger and Escalate), the Kent and Medway Business Fund and the SELEP funded Innovation Investment Scheme. This does not include investments made via the Discovery Park Technology Investment Fund and the Kent Life Science Fund. Project Aim To ensure a high level of support to those in receipt of Kent County Council's equity investment within the BEF portfolio. To provide monitoring information, advice, and support to Kent County Council to maximise the opportunity for the County Council to exit successfully from investments within the BEF portfolio. To ensure value for money and continuous improvement in service delivery so the contract delivers positive economic impact for Kent and Medway Specific Objectives To maintain regular communication with businesses within the BEF portfolio and to act as the first point of contact in relation to any communication from those businesses. To act on behalf of Kent County Council in an advisory capacity liaising with businesses within the BEF portfolio

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-2d731991-1fab-4002-8f19-6215f740e6a6
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/a388b9ba-62be-4a7d-93ed-9dc36b94562d
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME, VCSE
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£210,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
18 Feb 20224 years ago
Submission Deadline
21 Mar 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Jul 2022 - 11 Apr 2025 2-3 years
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
KENT COUNTY COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
MAIDSTONE
Postcode
ME14 1XQ
Post Town
Rochester
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ4 Kent
Small Region (ITL 3)
TLJ45 Mid Kent
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)
Local Authority
Maidstone
Electoral Ward
Penenden Heath
Westminster Constituency
Maidstone and Malling

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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