Cerberus Capital Management has acquired 57% of Officine Cst, a company that manages credit towards the Public Administration. His clients include banks, institutional investors, utilities and multinationals, but also SMEs. Officine Cst manages receivables for over 16 billion euros and employs 150 resources in Italy.
Cerberus – reads a note – has agreed to purchase the controlling stake in Officine CST from the company's founder and managing director, Gianpiero Oddone, and other shareholders. Oddone will continue to be CEO and remains a shareholder with 28%. Roberto Nicastro, senior advisor of Cerberus, will be non-executive chairman.
“Officine CST – commented Nicastro – represents a major direct investment by Cerberus in an Italian operating company that is a platform for future growth. Thanks to the partnership with Gianpiero and his team, we are convinced that Cerberus can improve the company's goal of providing support to companies in the efficient management of credit towards the Public Administration. Officine CST has grown rapidly thanks to the quality of the service offered. This will continue to be central also in the next phase of development, and it is an aspect in which Cerberus intends to continue investing”.
According to Oddone, “Cerberus as a strategic partner and investor represents a great opportunity to accelerate our growth and best express our potential. This partnership and this investment will allow us to strengthen our competitive position and further develop the technological platforms at the service of both large customers and small and medium-sized Italian companies for which the improvement in the liquidity of Public Administration credits represents a concrete business contribution".
