NACE 70.1 – Activities of Head Offices | Public Tenders

Definition: NACE 70.1 covers the administration and management of companies by holding companies that hold shares, exercise strategic control but do not themselves carry out operational activities. In a public context, state holdings, municipal shareholding companies and public group structures are classified here.

Legal basis: NACE Rev. 2 (Regulation (EC) No 1893/2006) · Last updated: January 2026

What does NACE 70.1 cover?

NACE 70.1 (Activities of head offices) classifies holding and management companies that steer and coordinate subsidiaries without themselves carrying out the primary business activity.

Group 70.1 within Section M (Professional, scientific and technical activities) and Division 70 comprises one class:

Public contracting authorities in the NACE 70.1 area are municipal shareholding holdings (utility holdings, transport holdings), state holdings (ÖBAG in Austria, SFPI/FPIM in Belgium), federal holding companies as well as public enterprises procuring management services.

Public Tenders: Sector NACE 70.1

Public shareholding companies and state holdings procure management consultancy, governance consultancy and specialised services for the steering of complex public corporate portfolios.

Typical types of contract

• Corporate governance consultancy: Consultancy on the structuring of supervisory board structures, shareholding controlling, Public Corporate Governance Code
• Shareholding management software: IT systems for the administration of public shareholding portfolios, reporting
• Strategy consultancy for state holdings: Portfolio optimisation, privatisation support, M&A consultancy for public share sales
• Auditing and group audit: Audit of the consolidated accounts of public groups
• Board recruitment: Executive search mandates for management positions in public shareholding companies
• Remuneration consultancy: Benchmarking and design of remuneration systems for executives in public enterprises

Thresholds and procedure types

Management services and consultancy services for public shareholding companies are subject to public procurement law from a contract value of EUR 221,000 (2024/2025 threshold for service contracts). Awards are frequently made in the negotiated procedure with prior selection due to the complexity and confidentiality of the services.

Relevant CPV codes for NACE 70.1

Current tenders can be found on TED (Tenders Electronic Daily) as well as on national procurement platforms.

Who is NACE 70.1 relevant for in public procurement?

Public contracting authorities

Municipal shareholding holdings are significant contracting authorities for governance and management consultancy. In Germany, many large cities have created independent shareholding management units (e.g. Beteiligungsholding Hamburg, Stadtwerke München GmbH). The Federal Ministry of Finance coordinates federal shareholding management via the Federal Agency for Special Unification-Related Tasks (BvS) or the Deutsche Bundesbank for certain positions. In Austria, the Österreichische Beteiligungs AG (ÖBAG) is the central holding company for federal shareholdings.

Companies and bidders

Consultancies and audit firms active in this segment must meet the following requirements:

• Reference evidence: Experience with public shareholding portfolios, state holdings or municipal undertakings
• Confidentiality requirements: Extensive confidentiality and conflict-of-interest management requirements
• Interdisciplinary expertise: Combination of corporate law, finance and public-sector experience
• Certifications: For audit services: WP authorisation under WPO

NACE 70.1 in context: Section M and Division 70

• NACE M – Professional, scientific and technical activities: Parent section
• NACE 70.2 – Management consultancy activities: Management consulting, PR consultancy
• NACE 69 – Legal and accounting activities: Corporate law, tax advice
• NACE 66.3 – Fund management activities: Asset management, pension schemes

Frequently Asked Questions on NACE 70.1 and public tenders

Are municipal shareholding holdings themselves public contracting authorities?
Yes, where they qualify as public contracting authorities within the meaning of section 99 GWB — which is often the case for municipal companies if they are predominantly publicly funded or under the supervision of public bodies.

Do management contracts between holding and subsidiaries have to be tendered?
Internal service relationships between a public contracting authority and its subsidiary can fall under the in-house privilege (section 108 GWB) where the subsidiary acts mainly for the public contracting authority and the latter exercises corresponding control. In this case, the tendering obligation does not apply.

How is executive search for public enterprises tendered?
Executive search (board recruitment) is tendered as a service contract. Due to confidentiality and the need to address candidates discreetly, a negotiated procedure is frequently chosen. The Public Corporate Governance guidelines recommend transparent appointment procedures.

What is the Public Corporate Governance Code (PCGK)?
The PCGK is a set of rules for the responsible management of public enterprises, analogous to the German Corporate Governance Code for listed companies. It provides recommendations on transparency, supervisory board work and remuneration and is applied by many municipalities and the federal government.

Last updated: January 2026
All information is provided without guarantee. For legally binding advice, please consult a law firm specialising in public procurement law.