APAX funds acquire OCS and Finwave creating a leading financial software platform

Milan, 13 December 2023 – Funds advised by Apax Partners LLP (“Apax”) completed the acquisition of OCS from Charme Capital Partners and of Finwave from the Lutech Group, creating one of the preeminent players in financial software in Europe. The two companies will continue serving customers under the OCS and Finwave brands.

OCS is a leading consumer-finance digital partner, delivering end-to-end omnichannel software and services in Italy, Spain, and Mexico. OCS supports banks and specialized financial institutions, guiding them through the LendTech revolution, redesigning consumer finance models thanks to deep industry expertise and advanced software capabilities.

Finwave is a leader in specialized financial software for factoring, leasing, UTP/NPL, post trading and global custody. Finwave has long-term relationships with top-tier financial institutions and credit providers, with a strong focus on the Italian market.

The combination of OCS and Finwave creates a €100 million revenue European financial software platform of scale. Together, OCS and Finwave will leverage their collective expertise and talent to accelerate the development of innovative software solutions to support the evolving needs of financial institutions and operators. As a combined group, OCS and Finwave will be better positioned to serve their customers in Italy and internationally, with a large offering covering consumer finance, corporate finance and capital markets software and solutions.

Gabriele Cipparrone, Partner at Apax, commented: “We’re incredibly excited about this transaction. The combination of OCS and Finwave will create a truly unique, European financial software platform of scale, with huge potential for future growth. We look forward to partnering with both teams to execute on our vision for the combined business, creating a digital-first, future-proof business, and trusted technology partner.”

Gianni Camisa, CEO of OCS, said: “I would like to thank Charme Capital Partners – personally and on behalf of the entire OCS team – for having been a capable and very professional shareholder and partner to all of us. Under their tenure OCS successfully transitioned to a structured, managerialized company, introducing an experienced management team and reinforcing the existing structure with an extensive hiring plan. Under Charme ownership, OCS grew, implemented a new vision and strategy, expanded internationally, and set ambitious targets in terms of innovation and product development. With Apax we will take a further leap forward. The Apax Funds’ acquisition of OCS and the combination with Finwave marks the beginning of another exciting chapter in our history of supporting Italian financial institutions with their technology needs. As one of the leading software businesses in Europe focused on the retail financial market, this transaction will allow us to continue delivering innovative solutions, as we have done for the past four decades, while empowering us to expand our offering and presence across Europe. Apax, like ourselves, are tech experts with a deep understanding of the power of digital, and I am excited to embark on this journey”.

Willy Burkhardt, CEO of Finwave, said: “This is a great milestone for Finwave. The Apax funds’ strategic plan is to acquire and integrate leading players in the market to create innovative solutions for credit management and capital markets. OCS and Finwave are the leading players in Consumer and Corporate Finance Software. Both companies offer premium technology solutions that provide the foundation for strong future growth. We are starting today with 100€ million in revenues and almost 1,000 people highly skilled in financial market software, and we are well positioned to grow in Italy and in Europe.”

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About Apax

Apax Partners LLP ("Apax") is a leading global private equity advisory firm. For over 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax.

Please visit www.apax.com

About OCS

Based in Milan, Brescia, Turin, Madrid and Mexico City, OCS is a leading digital partner and software provider in the banking and financial sector. Since 1984, the company has supported the evolution of the market. Today, with a solid experience and deep knowledge of the different processes, OCS works alongside its customers to guide them through the LendTech revolution, redesigning with them the 'consumer finance' models thanks to the most advanced modular digital solutions. OCS offers the opportunity to establish stronger relationships with end customers, taking advantage of the introduction of new processes and technologies. In addition to the know-how and the development and integration capabilities, OCS combines expertise and consultancy in compliance with current European regulations and standards.

Please visit www.ocsnet.it/en

About Finwave

Finwave represents the evolution and synthesis of the skills and experiences of the prestigious companies Arcares, Liscor, Finance Evolution and CSTTech. This merger has created a unique and dynamic entity, with a turnover of almost 50 million euros, positioning as the primary company in Italy for credit management software and other specific needs of the banking world. Finwave stands out for the ability to meet the needs of all players in the financial market, offering end-to-end platforms and distinctive expertise in several key areas from Factoring to Lending, from Consumer Credit to UTP/NPL, from Bank applications to Wealth Management, from Security Services to Fund management, up to Compliance. Finwave works end-to-end, developing complete application and infrastructure solutions and working with the best technology partners in the market to build an integrated ecosystem which grows and evolves with customers business goals. Finwave knows the specific processes of each industry, and is able to optimize them covering every step, from onboarding and operations right through to regulatory reporting.

Please visit www.finwave.it/en

Apax
Luke Charalambous
+44 20 7872 6300
Luke.Charalambous@apax.com

OCS
Hotwire Public Relations Italy srl
+39 02 3664 3650
OCSIT@hotwireglobal.com

Finwave
Paolo Consoli
+39 360 105 3477
Paolo.consoli@finwave.it comunicazione@finwave.it