Grimsby Institute of Further and Higher Education - The provision of Financial Due Dilligence Services for the proposed merger of The TEC Partnership and East Riding College

The TEC Partnership is the main trading brand and subsidiary companies of the Grimsby Institute of Further and Higher Education (GIFHE). Legal requirements, policies, data protection registration and other documentation relating to or as part of the operation of brands are part of GIFHE's legal status.

This invitation to tender is for the appointment of financial professional advisors to support the Colleges in considering a potential merger between Grimsby Institute of Further and Higher Education and East Riding College ("the Project"). The colleges are working on the basis that they will be appointing one firm to undertake the Project on behalf of both colleges, led by The TEC Partnership, producing one report. The Project requires capable professional resources to be available immediately in order to support the due diligence phase of the Project as the Colleges intend to start this process imminently and to complete it within a tight timeframe.

The objective of the financial due diligence report will be to provide an assurance of the future financial performance and prospects of the organisations pre and the organisation post-merger, identifying key risks and sensitivities and how each stakeholder will deal with these; and the critical success requirements. The report will provide assurance that the transferee college is capable of taking on the assets and liabilities of the transferring college and comfort over the financial viability of the transferee college once it has taken on students, staff, assets and liabilities of the transferring college.

Another party to this agreement will be the Bank(s) and the minimum requirement is that there is a "duty of care letter" in place from the successful tenderer in relation to reliance the Bank(s) can place on the DD report.

The colleges require that by the end of the due diligence timetable they:

A prime objective of the professional adviser will be to identify any key issues and risks in connection with the proposed merger.

The ITT document is attached to this notice. Please read the tender document carefully and ensure that for all elements required you provide evidence or a statement to fulfil the requirements.

Additional information: Please apply directly to the buyer using the contact details provided, or follow the instructions given in the notice description or information section.