Tender

Grimsby Institute of Further and Higher Education - The provision of Financial Due Dilligence Services for the proposed merger of The TEC Partnership and East Riding College

GRIMSBY INSTITUTE OF FURTHER & HIGHER EDUCATION

This public procurement record has 1 release in its history.

Tender

03 Oct 2019 at 08:29

Tender Notice
Summary of the contracting process

The Grimsby Institute of Further and Higher Education is currently seeking providers for financial due diligence services related to the potential merger with East Riding College. This tender, titled "Grimsby Institute of Further and Higher Education - The provision of Financial Due Diligence Services for the proposed merger," is classified under the CPV code for financial auditing services. The procurement is in the tender stage, with the deadline for submission set for 24th October 2019. The contract is anticipated to commence on 7th November 2019 and run until 31st December 2019, primarily located in Yorkshire and the Humber region.

This opportunity presents a significant avenue for business growth, particularly for financial consulting firms specialising in due diligence and merger advisory services. Businesses capable of providing comprehensive financial analysis, risk assessment, and compliance support will likely be best positioned to compete. As the Colleges look for expertise to facilitate an informed merger decision, firms that can demonstrate immediate resource availability and a track record in similar projects will find themselves well-suited for this tender.

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Notice Information

Notice Title

Grimsby Institute of Further and Higher Education - The provision of Financial Due Dilligence Services for the proposed merger of The TEC Partnership and East Riding College

Notice Description

The TEC Partnership is the main trading brand and subsidiary companies of the Grimsby Institute of Further and Higher Education (GIFHE). Legal requirements, policies, data protection registration and other documentation relating to or as part of the operation of brands are part of GIFHE's legal status. This invitation to tender is for the appointment of financial professional advisors to support the Colleges in considering a potential merger between Grimsby Institute of Further and Higher Education and East Riding College ("the Project"). The colleges are working on the basis that they will be appointing one firm to undertake the Project on behalf of both colleges, led by The TEC Partnership, producing one report. The Project requires capable professional resources to be available immediately in order to support the due diligence phase of the Project as the Colleges intend to start this process imminently and to complete it within a tight timeframe. The objective of the financial due diligence report will be to provide an assurance of the future financial performance and prospects of the organisations pre and the organisation post-merger, identifying key risks and sensitivities and how each stakeholder will deal with these; and the critical success requirements. The report will provide assurance that the transferee college is capable of taking on the assets and liabilities of the transferring college and comfort over the financial viability of the transferee college once it has taken on students, staff, assets and liabilities of the transferring college. Another party to this agreement will be the Bank(s) and the minimum requirement is that there is a "duty of care letter" in place from the successful tenderer in relation to reliance the Bank(s) can place on the DD report. The colleges require that by the end of the due diligence timetable they: * are in receipt of a due diligence report and supporting documentation to enable the colleges to make an assessment of the merger opportunity * have all the information needed to be able to make a fully informed decision as to whether to proceed with the merger. A prime objective of the professional adviser will be to identify any key issues and risks in connection with the proposed merger. The ITT document is attached to this notice. Please read the tender document carefully and ensure that for all elements required you provide evidence or a statement to fulfil the requirements. Additional information: Please apply directly to the buyer using the contact details provided, or follow the instructions given in the notice description or information section.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-dd42a46f-a5f2-451b-96f7-92d44db690e0
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/712c3655-ed11-447a-b9c6-5f89ce7349eb
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 (below threshold)
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79212100 - Financial auditing services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
3 Oct 20196 years ago
Submission Deadline
24 Oct 2019Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
7 Nov 2019 - 31 Dec 2019 1-6 months
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
GRIMSBY INSTITUTE OF FURTHER & HIGHER EDUCATION
Contact Name
Wendy Smith
Contact Email
purchasing@grimsby.ac.uk
Contact Phone
01472 311 222 ext 5248

Buyer Location

Locality
GRIMSBY
Postcode
DN34 5BQ
Post Town
Doncaster
Country
England
Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE1 East Yorkshire and Northern Lincolnshire
Small Region (ITL 3)
TLE13 North and North East Lincolnshire
Delivery Location
TLE Yorkshire and The Humber
Local Authority
North East Lincolnshire
Electoral Ward
Park
Westminster Constituency
Great Grimsby and Cleethorpes

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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