Award

Opening up the investment pipeline of the BBB

BRITISH BUSINESS BANK

This public procurement record has 1 release in its history.

Award

26 Jan 2024 at 16:45

Award Notice
Summary of the contracting process

The British Business Bank awarded a contract to Ernst & Young LLP for consultancy services to support the development of a new investment vehicle. The contract, valued at £2,000,000, has a duration from January 26, 2024, to June 30, 2025. The procurement process was an open procedure, with the tender period ending on December 18, 2023.

This tender presents an opportunity for businesses in the business and management consultancy services sector to engage with the British Business Bank. Companies with expertise in strategy consulting and financial services could compete for this contract. The project location includes various regions such as the United Kingdom, British Oversea Territories, Europe, and others, offering a wide scope for participation.

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Notice Information

Notice Title

Opening up the investment pipeline of the BBB

Notice Description

British Business Bank (BBB) undertook a mini competition exercise via Lot 2 (Stratgegy) of the Crown Commercial Services (CCS) RM6187 Management Consultancy Framework Three (MCF3) for the provision of consultancy services to support the development, design and implementation of a new investment vehicle/fund that would enable the Bank to take on and manage third party capital. This will be for an initial term of 11 months until 31st December 2024, with the option to extend for a further 6 months until 30th June 2025. The total potential value for the full term of the contract, incorporating the extension period, shall be PS2,000,000

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-bc73e039-88bb-4ce8-a017-da0fe9e1f01f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/1b1cab9e-2c31-4e0d-a1d9-f23c7b3ffa7a
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79410000 - Business and management consultancy services

Notice Value(s)

Tender Value
£2,000,000 £1M-£10M
Lots Value
Not specified
Awards Value
£2,000,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
26 Jan 20242 years ago
Submission Deadline
18 Dec 2023Expired
Future Notice Date
Not specified
Award Date
18 Dec 20232 years ago
Contract Period
26 Jan 2024 - 30 Jun 2025 1-2 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
BRITISH BUSINESS BANK
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LEEDS
Postcode
LS15 8NU
Post Town
Leeds
Country
England
Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE4 West Yorkshire
Small Region (ITL 3)
TLE42 Leeds
Delivery Location
Not specified
Local Authority
Leeds
Electoral Ward
Temple Newsam
Westminster Constituency
Leeds East

Supplier Information

Number of Suppliers
1
Supplier Name

ERNST & YOUNG

Further Information

Notice Documents

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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