FSI received the Claudio Dematté Award – Private Equity of the Year 2021, Expansion category for its investment in CEDACRI, the largest Italian IT and software platform for financial Institutions. It is the most prestigious award for the private equity industry in Italy.
The jury awarded the FSI-Cedacri value creation journey with the following motivation: “For supporting the company in scaling the digital services sector for Italian banks and achieving amazing results through acquisitions and organic growth, and contributing to the strengthening of management and governance”.
Maurizio Tamagnini, CEO of FSI, commented: “I am very pleased. Our Cedacri investment proves that it is possible to create a large technology company, starting from a consortium, where FSI put the ‘fuel’ for expansion and actively supported a new professional and competent management team – led by Corrado Sciolla – to utilise these resources to acquire clients, companies, skills and technologies. Later, when we realised that we would no longer be able to do this alone, we contacted a large global company like ION, which had never invested in Italy. At that point, we decided to reinvest, while realizing excellent returns. This transaction shows how it is possible to build excellent companies in Italy, even in the technology sector”.