Provision of Due Diligence Services for Derby Enterprise Growth Fund

About

Derby City Council awarded a contract to BDO LLP for due diligence services primarily for companies accessing the Derby Enterprise Growth Fund and D2 Enterprise Growth Fund, with availability to the Council more widely.

The services included undertaking due diligence exercises and providing reports and advice on companies offered grant or loan funding prior to funding contracts being signed, reviewed, or amended.

Reports provided an external independent view on viability and risk, as well as confirmation and validation of State Aid position to ensure funding was State Aid compliant.

The contract was procured via a further competition under the Crown Commercial Service Consultancy ONE Framework RM1502, Lot 5.2 Audit-Other Assurance and Advice, with an initial term from 1 April 2017 to 31 March 2020 and an option to extend for a further year, up to a maximum end date of 31 March 2021.

The contract value was AUD 300,000.