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03 Contract Award Notice - Successful Supplier(s)

Provision of Fund Management Services to the Wales Business Fund

  • First published: 14 September 2016
  • Last modified: 14 September 2016

The buyer is not using this website to administer the notice.

To record your interest or obtain additional information or documents please find instructions within the Full Notice Text. (NOTE: Contract Award Notices and Prior Information Notices do not normally require a response)

Contents

Summary

OCID:
ocds-kuma6s-041333
Published by:
Development Bank of Wales
Authority ID:
AA0555
Publication date:
14 September 2016
Deadline date:
-
Notice type:
03 Contract Award Notice - Successful Supplier(s)
Has documents:
No
Has SPD:
No
Has Carbon Reduction Plan:
No

Abstract

Finance Wales plc ("FW") has been appointed by the Welsh European Funding Office as the Holding Fund/Fund Administrator for a new fund for Welsh-based Micro to Medium Enterprises. The new fund will be known as the Wales Business Fund. NPS facilitated the procurement process on behalf of FW. The tender was undertaken through the NPS electronic tendering profile at www.etenderwales.bravosolution.co.uk. CPV: 66122000.

Full notice text

Contract award notice

Results of the procurement procedure

Section I: Contracting authority

I.1) Name and addresses

National Procurement Service (NPS) for Wales on behalf of Finance Wales plc (FW)

Ty'r Afon, Bedwas Road

Caerphilly

CF83 8WT

UK

E-mail: npsprofessionalservices@wales.gsi.gov.uk

NUTS: UKL

Internet address(es)

Main address: www.financewales.co.uk

Address of the buyer profile: http://www.sell2wales.gov.uk/search/Search_AuthProfile.aspx?ID=AA0555

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

Provision of Fund Management Services to the Wales Business Fund

Reference number: NPS-PS-0029-15

II.1.2) Main CPV code

66122000

 

II.1.3) Type of contract

Services

II.1.4) Short description

Finance Wales plc ("FW") has been appointed by the Welsh European Funding Office as the Holding Fund/Fund Administrator for a new fund for Welsh-based Micro to Medium Enterprises. The new fund will be known as the Wales Business Fund.

NPS facilitated the procurement process on behalf of FW. The tender was undertaken through the NPS electronic tendering profile at www.etenderwales.bravosolution.co.uk.

II.1.6) Information about lots

This contract is divided into lots: No

II.1.7) Total value of the procurement

Value excluding VAT: 24 100 000.00  GBP

II.2) Description

II.2.3) Place of performance

NUTS code:

UKL

II.2.4) Description of the procurement

FW was appointed by WEFO as the Holding Fund/Fund Administrator for a new fund for Welsh based Micro to Medium Enterprises. The new fund is known as the Wales Business Fund the “Fund”. The Fund is a GBP135.9m fund comprising 2 sub-funds: Equity and Loans. The Fund will operate within the State aid framework and will be required to be managed and administered in accordance with the requirements of the Structural Funds legislation.

The purpose of the procurement process was to invite professional, financially robust, FCA authorised fund managers to bid to deliver the Fund.

NPS facilitated the procurement process on behalf of FW.

II.2.5) Award criteria

Quality criterion: Provide a high quality project team / Weighting: 30

Quality criterion: Manage and deliver the loans sub-fund / Weighting: 20

Quality criterion: Manage and deliver the equity sub-fund / Weighting: 20

Quality criterion: Manage risks and ensure compliance / Weighting: 10

Quality criterion: Ensure compliance with, and delivery of, funders' requirements / Weighting: 20

Quality criterion: Deliver the KPIs and Target Output Indicators / Weighting: 30

Quality criterion: Undertake operational communications and business development / Weighting: 10

Quality criterion: Put appropriate processes and systems in place to manage the Fund / Weighting: 10

Quality criterion: Presentation / Weighting: 10

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:

The Wales Business Fund is to be part-funded by the European Regional Development Fund (ERDF) West Wales and the Valleys Programme and the ERDF East Wales Programme.

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

IV.2) Administrative information

IV.2.1) Previous publication concerning this procedure

Notice number in the OJ S:

2016/S 043-070187

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

16/08/2016

V.2.2) Information about tenders

Number of tenders received: 1

Number of tenders received from SMEs: 1

Number of tenders received from tenderers from EU Member States: 0

Number of tenders received from tenderers from non-EU Member States: 0

Number of tenders received by electronic means: 1

The contract has been awarded to a group of economic operators: No

V.2.3) Name and address of the contractor

Finance Wales Investments Ltd

1 Capital Quarter, Tyndall Street

Cardiff

CF10 4BZ

UK

Telephone: +44 7789371315

NUTS: UKL

Internet address(es)

URL: www.financewales.co.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: : 24 100 000.00  GBP

V.2.5) Information about subcontracting

Section VI: Complementary information

VI.3) Additional information

(WA Ref:53428)

VI.4) Procedures for review

VI.4.1) Review body

Finance Wales

1 Capital Quarter, Tyndall Street

Cardiff

UK

E-mail: procurement@financewales.co.uk

Internet address(es)

URL: www.financewales.co.uk

VI.5) Date of dispatch of this notice

12/09/2016

Coding

Commodity categories

ID Title Parent category
66122000 Corporate finance and venture capital services Investment banking services and related services

Delivery locations

ID Description
1017 Bridgend and Neath Port Talbot
1022 Cardiff and Vale of Glamorgan
1015 Central Valleys (Merthyr Tydfil, Rhondda Cynon Taf)
1013 Conwy and Denbighshire
1020 East Wales
1023 Flintshire and Wrexham
1016 Gwent Valleys (Torfaen, Blaenau Gwent, Caerphilly)
1012 Gwynedd
1011 Isle of Anglesey
1021 Monmouthshire and Newport
1024 Powys
1014 South West Wales (Carmarthenshire, Pembrokeshire, Ceredigion)
1018 Swansea
1000 WALES
1010 West Wales and The Valleys

Alert region restrictions

The buyer has restricted the alert for this notice to suppliers based in the following regions.

ID Description
There are no alert restrictions for this notice.

Document family

Notice details
Publication date:
02 March 2016
Deadline date:
11 April 2016 00:00
Notice type:
02 Contract Notice
Authority name:
Development Bank of Wales
Publication date:
14 September 2016
Notice type:
03 Contract Award Notice - Successful Supplier(s)
Authority name:
Development Bank of Wales

About the buyer

Main contact:
npsprofessionalservices@wales.gsi.gov.uk
Admin contact:
N/a
Technical contact:
N/a
Other contact:
N/a

Further information

Date Details
No further information has been uploaded.

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