Contract award notice
Results of the procurement procedure
Section I: Contracting
authority
I.1) Name and addresses
British Business Financial Services Limited
Steel City House, West Street
Sheffield
S1 2GQ
UK
Telephone: +44 2039051462
E-mail: procurement@british-business-bank.co.uk
NUTS: UK
Internet address(es)
Main address: www.british-business-bank.co.uk
I.2) Joint procurement
The contract is awarded by a central purchasing body
I.4) Type of the contracting authority
Body governed by public law
I.5) Main activity
Economic and financial affairs
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
Agreement for the Cornwall and Isle of Scilly Investment Fund (CIOSIF) Fund
II.1.2) Main CPV code
66000000
II.1.3) Type of contract
Services
II.1.4) Short description
The British Business Bank is conducting this procurement to establish an agreement for a fund manager for the Cornwall and Isles of Scilly region for: a combined debt and equity fund; value range of: 40 000 000 GBP to 80 000 000 GBP.
The estimated total value set-out in II.1.5) and repeated in II.2.6) is the maximum value of the Fund Manager fees that the Authority expects to pay under this Agreement.
II.1.6) Information about lots
This contract is divided into lots:
No
II.1.7) Total value of the procurement
Value excluding VAT:
10 000 000.00
GBP
II.2) Description
II.2.2) Additional CPV code(s)
66000000
66100000
66120000
66122000
66190000
II.2.3) Place of performance
NUTS code:
UKK3
Main site or place of performance:
Cornwall and Isles of Scilly.
II.2.4) Description of the procurement
A Debt and Equity Fund where the authority is looking to commit between 40 000 00 GBP and 80 000 000 GBP of funds. Each equity investment must satisfy the following conditions:
1) be an investment in an SME in the CIOSIF Area;
2) be an investment in a range size from 25 000 GBP up to 2 000 000 GBP. This figure may be exceeded in exceptional circumstances and with Investor Consent;
3) all conditions in the IOGs, LPA and FMA of the Fund.
Each debt loan must satisfy the following conditions:
II.2.5) Award criteria
Quality criterion: Quality
/ Weighting: 50
Cost criterion: Price
/ Weighting: 50
II.2.11) Information about options
Options:
No
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
Yes
Identification of the project:
Funded by the European Regional Development
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Open procedure
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
Yes
Section V: Award of contract
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
30/04/2018
V.2.2) Information about tenders
Number of tenders received: 2
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
FSE Fund Managers Ltd
Riverside House, 4 Meadows Business Park, Approach, Blackwater
Camberley
GU17 9AB
UK
NUTS: UK
The contractor is an SME:
Yes
V.2.4) Information on value of the contract/lot (excluding VAT)
Initial estimated total value of the contract/lot:
Total value of the contract/lot:
: 10 000 000.00
GBP
V.2.5) Information about subcontracting
The contract is likely to be subcontracted
Value or proportion likely to be subcontracted to third parties
Proportion: 19 %
Short description of the part of the contract to be subcontracted:
19 % of the fund value.
Section VI: Complementary information
VI.3) Additional information
To view this Notice, please click here:
https://www.delta-esourcing.com/delta/viewNotice.html?noticeId=319389190
GO Reference: GO-2018516-PRO-12429417
VI.4) Procedures for review
VI.4.1) Review body
British Business Financial Services Limited
Steel City House, West Street
Sheffield
S1 2GQ
UK
VI.4.3) Review procedure
Precise information on deadline(s) for review procedures:
Any appeals should be promptly brought to the attention of the Head of procurement at the address specified in Section I) above, and will be dealt with in accordance with the requirements of the Public Contracts Regulations 2015. Any appeals must be brought within the time-scales specified by the applicable law, including, without limitation, the Public Contracts Regulations 2015. In accordance with such Regulations, the contracting authority will incorporate a minimum 10 calendar days standstill period from the date information on award of contract is communicated to Tenderers.
VI.4.4) Service from which information about the review procedure may be obtained
British Business Financial Services Limited
Steel City House, West Street
Sheffield
S1 2GQ
UK
VI.5) Date of dispatch of this notice
16/05/2018