Klecha & Co acted as financial advisor to OCS in the context of its new partnership with Charme III, part of Charme Funds. Pedersoli Studio Legale acted as legal advisor and Studio Zanoletti-Uberti.
Established in 1984 and headquartered in Milan and Brescia, OCS is the Italian leader in the provision of proprietary software solutions for the retail finance market. In over 30 years of activity, OCS has supported the main Italian banks and specialized financial institutions, acting as reference technology partner for complex and innovative IT solutions for both the consumer credit and asset finance.
The company boasts a team of ca. 100 highly specialized professionals, sales of approximately €30 million in 2017 (with an annual 14% growth over the last three years) and is currently owned by its three co-founders, Luciano Benedini, Francesco Cavagna and Lorenzo Cereda.
Charme III is part of Charme Funds, which were created in 2003 by Luca and Matteo di Montezemolo. Launched between 2015 and 2016 and with total commitments of €650 million and offices in Milan, London and Madrid, Charme III invests in companies with high International growth potential, whose value ranges between €100 million and €500 million.
The partnership between Charme III and OCS is featured by a full corporate and managerial continuity, with the three co founders retaining a stake of 20% in the share capital and maintaining their current top management roles. The goal is to further develop OCS in the context of a growth strategy in Italy and internationally shared with Charme, with particular focus on new products development.
"OCS represents a strong investment opportunity in the sector leader with a high growth potential with a unique set of competences developed in over 30 years of activity, thanks to the know-how of both its founder and team of professionals. These are the distinctive features of Charme Funds investment strategy and represent the strategic and operating support that we will provide to OCS to implement its growth plan" commented Matteo di Montezemolo, CEO of Charme, and Simone Cavalieri, Partner of Charme.
Luciano Benedini, Francesco Cavagna and Lorenzo Cereda, co-founders and co-CEOs of OCS, said: “Thanks to the partnership with Charme III, OCS plans to continue its development path. The objective is to strengthen and further evolve the OCS platform according to the strategic plan shared with Charme, in order to tap the multiple market opportunities both in Italy as well as internationally”.
Charme III was assisted by Legance Avvocati Associati, PWC, Osculati & Partners and Spada Partners while the financing has been structured through a bond underwritten by the Pemberton Funds, assisted by Clifford Chance.