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Private Equity Firm Completes Coalfire Cybersecurity Acquisition

Private equity firm Apax Partners has finalized the Coalfire cybersecurity acquisition, the two firms disclosed today. The seller was The Carlyle Group and Chertoff Capital. Financial terms were not disclosed. The deal was first announced in December 2019.

This is M&A deal number 189 that MSSP Alert and sister site ChannelE2E have covered so far in 2020. The pace of technology services M&A slowed amid the coronavirus pandemic in late March and early April 2020, but overall deal activity has picked up in recent days. See the complete M&A deal list here.

Coalfire provides cyber risk management, advisory, technology and compliance services, including:

  • Coalfire Labs: Analyzes cyber risks across IT environments.
  • CoalfireOne: Helps organizations simplify compliance, manage risk and upgrade their security posture.
  • Compliance: Enables organizations to keep pace with industry data security requirements.
  • Cyber Engineering: Detects and addresses cyber threats.

Coalfire’s Secure Cloud Automation Service (SCAS) in 2019 gained continuous monitoring capabilities from Qualys, an IT and web application auditing, compliance and protection solutions.

Apax Partners Acquires Coalfire: Executive Perspectives

Describing the deal, Coalfire CEO Tom McAndrew in a prepared statement said:

“We’re very pleased with Apax Partners’ acquisition of Coalfire and look forward to driving our growth through new technology investments, strategic acquisitions, and service expansion focused on optimizing the pervasive shift towards multi-cloud environments and remote operations. We appreciate the stewardship of our previous owners, The Carlyle Group and Chertoff Capital, that has set the course for this opportunity with our management.”

Added Rohan Haldea, a partner at Apax Partners.

“Coalfire is an established and highly-respected cybersecurity advisory and assessment services firm that is well-positioned for further growth due to cybersecurity trends and the vision of its strong management team. The Apax Funds’ investment will assist the company in particular by increasing Coalfire’s investment in technology; continuing to invest in thought leadership, especially with respect to securing cloud environments; and deepening capabilities across assurance standards while scaling its penetration testing and cyber risk services business.”

Government Cybersecurity Consulting

On a related note: Coalfire Federal is  part of the buyout but will act as a separate unit with Bill Malone as president and with its own, separate board.

Coalfire Federal will carry on supporting its clients in enabling and protecting their critical missions, the company says. Among other focus areas, Coalfire will continue to provide services to help Department of Defense suppliers prepare for and meet new CMMC (Cybersecurity Maturity Model Certification) regulations, the firm adds.

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