Build America Bureau Restructuring Advisory Services

The Department of Transportation Immediate Office of the Secretary has established a Master IDIQ to provide financial advisory services for restructuring situations and portfolio management matters in surface transportation infrastructure finance, with a shared ceiling of five million dollars and an ordering period that closed on August 19, 2024.

Ordering is no longer active. The vehicle was awarded on August 20, 2019, and the final date to place orders passed approximately 22 months ago. The ordering window ran nearly five years. Four task orders have been placed over the life of the contract, with one order awarded as recently as June 25, 2024. Activity peaked in 2022 with two orders; 2021 and 2024 each saw one order. Combined task-order potential value stands at three million two hundred thousand dollars, with two million five hundred thousand dollars obligated, representing 77 percent utilization of the combined ceiling.

Competition is nonexistent under this vehicle. Alvarez & Marsal Public Sector Services, LLC holds all four task orders and 100 percent of the combined potential value. The Department of Transportation Immediate Office of the Secretary is the sole customer agency. All four orders carry unrestricted (no set-aside) designations.

Task orders have ranged from two hundred thousand dollars to one million seven hundred sixty-five thousand dollars in ceiling value. The most recent order, awarded June 25, 2024, for SH130 assets sale support carries a ceiling and obligated amount of seven hundred fifty thousand dollars and an ultimate completion date of February 19, 2025. The second-largest order, from August 3, 2022, was originally structured with a one million seven hundred sixty-five thousand dollar ceiling but ultimately obligated one million fifteen thousand dollars. Both recent orders relate to SH130 assets sale support; earlier orders addressed SH130 equity and PIK note facility valuation and TIFIA restructurings lessons learned analysis. All orders are priced firm fixed price.

The objective of this IDIQ contract is to provide financial advisory services in Restructuring situations and other portfolio management matters in the surface transportation infrastructure finance area to support the activities of the Bureau. Restructuring situations and other portfolio management matters may include Chapter 11/bankruptcy processes, refinancings of senior debt or other large and complex amendments, trainings, and analysis research. The Contractors may serve as the external financial advisor for the Bureau, on both a government-pay or an applicant-pay basis.