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SC21072 Equity Services

Financial and insurance services
South East (UKJ4)
Published value
Not published
Submission deadline Not published
Lots published1
Procurement Executive Summary
AI & Search Synopsis
Generated from official OCDS record
Tenderline Synopsis: Kent County Council: "SC21072 Equity Services". Published status: complete. Published value: Value not published. 1 published lot. Submission deadline not published. See the official notice for participation instructions.
Contracting AuthorityKent County CouncilScope & CategoriesNot publishedSubmission Window
complete
No deadline published
Submission GatewayDirect notice routeLegal Basis & RegimeStandard procurementEstimated Value (exc. VAT)Not published
Bidder Intelligence · Authority Profile: Kent County Council
Market Analytics
View Authority Profile →
Derived from OCDS awards & bid statistics
Published history for Kent County Council. These figures describe retained records, not a forecast of bids or a measure of buyer bias.
Average Price Reduction
Not availableInsufficient comparable data
Requires at least 5 comparable procedures
Competition Density
8.1Bids / Report
30.7% of reports have one bid
Supplier ConcentrationNo estimate
Insufficient attributable awardsNo concentration estimate available
Payment Terms
Check noticePublished terms
Payment obligations depend on the applicable regime and contract. Consult the official documents.
Coverage: 87 active published awards; 75 bid reports (which may be per lot). Supplier values exclude multi-supplier awards, frameworks and DPS, and use GBP only. They are published award values, not payments. Price reduction compares single-lot, single-award, single-supplier GBP procedures with explicitly non-framework/non-DPS status; increases remain in the average. Unpublished data stays unknown. Awarded suppliers are winners, not all bidders.
Procedure terms
Contracting AuthorityKent County Council
Procedure methodNot published
Procurement categoryNot published
Statuscomplete
Framework / DPSNot published
CompetitionNot published
Above thresholdNot published
Legal basisNot published
Tender period startsNot published
Clarification deadlineNot published
Electronic submissionNot published
Submission languagesNot published
Published14 Jun 2022, 15:11 BST
Last source update14 Jun 2022, 15:11 BST
Recurring procurementNot published
ClassificationFinancial and insurance services
Delivery area
South East (UKJ4)
OCIDocds-h6vhtk-0318e3
What is being bought
Kent County Council (the Council) is the largest local authority in England covering an area of 3,500 square kilometres. It has an annual expenditure of over £1bn on goods and services and a population of 1.6m. The Council provides a wide range of personal and strategic services on behalf of its residents, operating in partnership with the NHS Kent and Medway Clinical Commissioning Group, 12 district councils, and 289 parish/town councils. The Council consists of four directorates: -Adult Social Core and Health -Children, Young People and Education -Growth, Environment and Transport -Strategic and Corporate Services This service is being commissioned on behalf of the Growth, Environment and Transport directorate. This activity supports Kent County Council’s Interim Strategic Plan by helping to deliver the Kent and Medway Economic Renewal and Resilience Plan, more specifically delivering essential support for local businesses. KCC has taken equity stakes in a number of companies via investments from the former Regional Growth Fund (RGF) schemes (Expansion East Kent, Tiger and Escalate), the Kent and Medway Business Fund and the SELEP funded Innovation Investment Scheme, known as Bespoke Equity Fund (BEF) portfolio and is seeking to procure a delivery partner to support, advise and assist these companies, with a £70,000 excluding vat gross per annum budget funded by KCC for the financial period until March 2024. Procurement was undertaken in compliance with the Public Contract Regulations 2015.
What changed
From the official release history
  1. tender value changed
    14 Jun 2022, 15:11 BST
  2. Status changed to complete
    14 Jun 2022, 15:11 BST
  3. Official notice release published
    14 Jun 2022, 15:11 BST
  4. Submission deadline changed to published date
    14 Jun 2022, 15:11 BST
  5. Published value updated to £210,000
    18 Feb 2022, 14:43 GMT
  6. Status changed to active
    18 Feb 2022, 14:43 GMT
  7. Official notice release published
    18 Feb 2022, 14:43 GMT
  8. Submission deadline changed to 21 Mar 2022, 12:00 GMT
    18 Feb 2022, 14:43 GMT
  9. Buyer information updated
    18 Feb 2022, 14:43 GMT
Lots and requirements (1)
Published by the contracting authority
  • Lot 1 · #1
    Individual lot title not published
    cancelled
    Published valueNot published
    The council is looking to procure a delivery partner to work on behalf of KCC to support, advise and assist businesses in receipt of equity investments within the Bespoke Equity Fund (BEF) portfolio, to help them grow, increase productivity, create/protect jobs and maximise the value of the sale and/or transfer of Kent County Council owned shares. The BEF portfolio consists of equity investments from the former Regional Growth Fund schemes (Expansion East Kent, Tiger and Escalate), the Kent and Medway Business Fund and the SELEP funded Innovation Investment Scheme. This does not include investments made via the Discovery Park Technology Investment Fund and the Kent Life Science Fund. Project Aim •To ensure a high level of support to those in receipt of Kent County Council’s equity investment within the BEF portfolio. •To provide monitoring information, advice, and support to Kent County Council to maximise the opportunity for the County Council to exit successfully from investments within the BEF portfolio. •To ensure value for money and continuous improvement in service delivery so the contract delivers positive economic impact for Kent and Medway Specific Objectives •To maintain regular communication with businesses within the BEF portfolio and to act as the first point of contact in relation to any communication from those businesses. •To act on behalf of Kent County Council in an advisory capacity liaising with businesses within the BEF portfolio which includes but is not limited to attending on Kent County Council’s behalf Board/Shareholder meetings. •To provide regular monitoring information to Kent County Council on the performance of all businesses within the BEF portfolio which includes but is not limited to: Amount invested; Share price paid; percentage of the business owned of the business owned by KCC; Current value of shares & percentage of the business owned by Kent County Council; Information and monitoring rights held by Kent County Council; jobs created or safeguarded by these businesses, level of additional private/public sector investment. This also includes assisting in the delivery of an annual report to the Kent County Council Governance and Audit Committee. •To hold detailed financial information for all businesses within the BEF portfolio including: Up to do date management accounts including profit and loss (P&L), balance sheet and cash flow; Up to date business plan; Human resource capability and gaps; Capital structure and shareholder base. •To advise on the sale and/or transfer of Kent County Council owned shares for businesses to maximise the value to Kent County Council within the BEF portfolio •To advise on any future Kent County Council investments related to businesses within the BEF portfolio. •To advise on appropriate exit strategies for businesses within the BEF portfolio. •To advise on dissolution/administration issues related to businesses within the BEF portfolio. •To appraise and advise on future convertible loans added to the portfolio.
    Contract periodNot published
    EligibilityNot published
    Options / renewalNot published
Timeline
  1. Procedure published
    14 Jun 2022, 15:11 BST
  2. Award active
    Not published · Not published
  3. Award active
    Not published · Not published
  4. Contract active
    Signed 14 Apr 2022, 00:00 BST · Not published
  5. Contract active
    Signed 14 Apr 2022, 00:00 BST · Not published
Commercial outcome and competition
Awards
Newable Ventures Limited
Not published · Not published · active
Newable Ventures Limited
Not published · Not published · active
Contracts
SC21072 Equity Services
Not published · signed 14 Apr 2022, 00:00 BST · active
SC21072 Equity Services
Not published · signed 14 Apr 2022, 00:00 BST · active
Bid statistics
highestValidBidValue: 200000
lowestValidBidValue: 60000
bids: 3 (lot 1)
bids: 3 (lot 1)
electronicBids: 3 (lot 1)
electronicBids: 3 (lot 1)
foreignBidsFromEU: 0 (lot 1)
foreignBidsFromEU: 0 (lot 1)
foreignBidsFromNonEU: 0 (lot 1)
foreignBidsFromNonEU: 0 (lot 1)
highestValidBidValue: 200000 (lot 1)
highestValidBidValue: 200000 (lot 1)
lowestValidBidValue: 60000 (lot 1)
lowestValidBidValue: 60000 (lot 1)
smeBids: 2 (lot 1)
smeBids: 2 (lot 1)
Buyer and organisations in this procedure

Kent County Council

Contracting authority GB-FTS-462
View buyer profile

  • Kent County Council
    buyer

    Sessions House, Maidstone, UKJ4, ME14 1XQ
    sccommercialteam@kent.gov.uk

  • Kent County Council
    reviewBody

    Invicta House, County Road, Maidstone, ME14 1XQ

  • Newable Ventures Limited
    supplier

    140 Aldersgate Street, London, UKJ4, EC1A 4HY
Documents (0)
Official links; attachments are not copied
No data
No linked documents are published
Related procedures (0)
No data
No related procedures published