Award

Framework for the Provision of Commercial Advisors

SCOTTISH GOVERNMENT

This public procurement record has 3 releases in its history.

Award

29 Sep 2022 at 09:25

Tender

09 Nov 2021 at 11:54

TenderUpdate

09 Nov 2021 at 11:54

Summary of the contracting process

The Scottish Government has completed the award process for the "Framework for the Provision of Commercial Advisors" procurement, establishing a mechanism for urgent due diligence on companies in difficulty. The framework aims to provide financial analysis, market information, and risk assessment to aid decision-making. The procurement attracted 11 bids, with Teneo Restructuring Limited, FRP Advisory, Ernst & Young LLP (EY), McKinsey & Company, Interpath Advisory, and PwC being the successful suppliers. The value of the awarded contract is £32,000,000 GBP, signed on 31st August 2022 by the Scottish Government.

This procurement offers a significant opportunity for multi-disciplinary agencies to provide professional services, including financial management, tax advice, restructuring, technical expertise, and more. The contracts were awarded following a quality-price evaluation, with technical aspects carrying a weight of 70% and price 30%. The process involved a diverse range of companies bidding for the opportunity, reflecting the demand for commercial advisory services in light of economic challenges due to Covid-19 and Brexit.

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Notice Title

Framework for the Provision of Commercial Advisors

Notice Description

The aim is to establish a timely, efficient and effective mechanism to conduct a range of urgent due diligence on companies in difficulty to inform decision making. Due diligence assignments will encompass a wide range of activities including financial analysis, market information and risk assessment to inform the viability of companies facing challenges and assess the likelihood of successful outcome. Six suppliers are appointed to the framework. The estimated value of the Framework provides for the initial three years plus one potential extension year.

Lot Information

Lot 1

The Rapid Response Unit (RRU) has been created to tackle a wide range of economic challenges as a result of Covid-19 and Brexit to enhance The Scottish Government's (SG) support for business resilience and ensure ensure access to economic analysis, company information and sector specific inputs capable of obtaining risks and offering help and support. Accordingly, to assist a business in crisis, the RRU will: - Scale up and enhance analytical capacity to provide for evidence-based decisions on business support reinforced by a number of new systems and tools; and - Scale up and enhance existing capacity to deal with actions emerging from special cases, where interventions involve repurposing or some other form of longer term support for transition before handing back to policy teams for business as usual activities. Pace is critical when responding to companies at risk and the aim is to establish a timely, efficient and effective mechanism to conduct a range of due diligence on companies in difficulty to inform decision making. Due diligence assignments will encompass a wide range of activities including financial analysis, market information and risk assessment to inform the viability of companies facing challenges and assess the likelihood of successful outcome. It is uncertain as to the number of instances of referral of businesses in crisis and as each case will be unique, it is difficult to determine as to the duration of the due diligence that would be undertaken by commercial advisors. It is likely that the commercial advice and inputs required may vary considerably due to differing contexts and business considerations. Six suppliers are appointed to the framework offering a range of integrated professional services including but not limited to: accountancy/financial management, and tax advice, commercial advisory services, restructuring and turnaround specialisms, specialist technical expertise such as economic and market analysis and other considerations including impacts of Subsidy Control (formerly State Aid).

Renewal: Following the end of the initial three year term, the Framework may be extended by a period of up to 12 months.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02efe4
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/027285-2022
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Framework
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

79400000 - Business and management consultancy and related services

Notice Value(s)

Tender Value
£32,000,000 £10M-£100M
Lots Value
£32,000,000 £10M-£100M
Awards Value
Not specified
Contracts Value
£32,000,000 £10M-£100M

Notice Dates

Publication Date
29 Sep 20223 years ago
Submission Deadline
25 Nov 2021Expired
Future Notice Date
Not specified
Award Date
30 Aug 20223 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
SCOTTISH GOVERNMENT
Contact Name
Alison Gardiner
Contact Email
alison.gardiner@gov.scot
Contact Phone
+44 1312446007

Buyer Location

Locality
GLASGOW
Postcode
G2 8EA
Post Town
Glasgow
Country
Scotland

Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM3 West Central Scotland
Small Region (ITL 3)
TLM32 Glasgow City
Delivery Location
TLM Scotland

Local Authority
Glasgow City
Electoral Ward
Anderston/City/Yorkhill
Westminster Constituency
Glasgow North

Supplier Information

Number of Suppliers
6
Supplier Names

ERNST & YOUNG LLP (EY

FRP ADVISORY

INTERPATH ADVISORY

MCKINSEY

PWC

TENEO RESTRUCTURING

Open Contracting Data Standard (OCDS)

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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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