UK SBS PS16199 Procurement of Financial Advisors

This tender opportunity relates to the former Sahaviriya Steel Industries UK Limited (SSI) steelworks at Redcar. The site covers an area of over 900 acres spread over a wide area across the wider Redcar steelworks plant.

Government and GovCo wish to transfer the Keep Safe activities from the Liquidator to GovCo as soon as possible. A critical step towards completing this transfer is the completion of financial due diligence of the Keep Safe activities, resulting in the creation of GovCo’s business plan.

The chosen financial advisor will conduct an appropriate level of financial due diligence of the Keep Safe business. Whilst this will require some understanding of the pre-liquidation operations, however, we acknowledge that pre-appointment records may not be complete or available. As a result, the primary focus of the financial due diligence will be on the expenditure and income during the post–liquidation period.

The output and key findings from the due diligence will feed into the business plan, completion of which will be led by the financial advisor, with support from DLA and GovCo management.

At the end of the assignment, control of the business plan and any supporting financial models will be transferred to GovCo, so that GovCo management can continue to develop the document as time and objectives progress.

Through the engagement period, frequent updates will be provided on the progress of the work, highlighting any material findings coming to light.

Please refer to the attached tender documentation for the full specification.