Award

Orbex Financial Due Diligence

UK SPACE AGENCY

This public procurement record has 2 releases in its history.

Award

29 Jul 2025 at 14:02

UK6 - Contract Award Notice
Award

29 Jul 2025 at 13:19

UK5 - Transparency Notice
Summary of the contracting process

The UK Space Agency, based at the Harwell Science and Innovation Campus in Didcot, has recently moved to the award stage for the procurement process titled "Orbex Financial Due Diligence". This procurement, classified under financial consultancy services, falls within the services category and involves a direct award to PRICEWATERHOUSECOOPERS LLP. The procurement method is a direct award aiming to update the financial due diligence following the previous investment in Orbex by HMG. The key dates include the completion of the contract period from 12th August 2025 to 31st October 2025. The procurement is part of the public authority's central government efforts and is focused within the UK region. The contract award notice was published on 29th July 2025.

This targeted financial consultancy project presents significant opportunities for growth, particularly for established large-scale consultancy firms like PRICEWATERHOUSECOOPERS LLP, which has been selected due to its pre-existing involvement and demonstrated expertise in related previous projects. Businesses specialising in financial due diligence, particularly within the aerospace or government sectors, would be well-suited to compete in similar opportunities, leveraging their industry knowledge and efficiency in updating and verifying financial health and viability. The direct procurement approach underscores the importance of maintaining service continuity and the complex understanding required for this niche consultancy service.

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Notice Information

Notice Title

Orbex Financial Due Diligence

Notice Description

In 2024 HMG provided a PS20m investment as a convertible loan note to Orbex. The investment was provided to enable the company to develop their small-lift launch vehicle Prime and prepare their bid for ESA's European Launcher Challenge (ELC). HMG wishes to update the financial due diligence given progress following that investment to understand the company's current financial health including long term viability, business, expenditure and investment plans, risks to successful completion of vehicle and service development, demonstration and reaching commercialisation.

Procurement Information

This work is an update to previously competed work competed that was awarded to the Supplier. The scope of the work updates and the original services that were delivered part of that original work was designing an appropriate methodology a different methodology would lead to the work being incompatible with, the existing services delivered where the time and cost of working with another supplier would be disproportionate. The supplier demonstrated their suitability for undertaking work of this nature by having been awarded the contract for the original due diligence work on a competitive basis.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-056827
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/043932-2025
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Direct award
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66171000 - Financial consultancy services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£135,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
29 Jul 20256 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
28 Jul 20256 months ago
Contract Period
11 Aug 2025 - 31 Oct 2025 1-6 months
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
UK SPACE AGENCY
Contact Name
Not specified
Contact Email
commercial@ukspaceagency.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
DIDCOT
Postcode
OX11 0DF
Post Town
Oxford
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ1 Berkshire, Buckinghamshire and Oxfordshire
Small Region (ITL 3)
TLJ14 Oxfordshire CC
Delivery Location
Not specified
Local Authority
Vale of White Horse
Electoral Ward
Hendreds
Westminster Constituency
Didcot and Wantage

Supplier Information

Number of Suppliers
1
Supplier Name

PRICEWATERHOUSECOOPERS

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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