The acquisition of cybersecurity firm Coalfire by funds advised by Apax Partners was officially finalized.
Coalfire, a provider of cybersecurity advisory and assessment services, today announced that its acquisition was now complete following full regulatory approval. The financial terms of the deal have not been publicly disclosed.
Coalfire made the news earlier this month when Anne Bayerkohler, the company's director of quality and compliance, was honored by Consulting Magazine's Women Leaders in Technology Awards in the Excellence in Leadership category.
Commenting on the acquisition, Coalfire CEO Tom McAndrew paid tribute to the company's former owners.
"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," said McAndrew.
Describing what's next for the freshly acquired company, McAndrew said remote operations would be a new focus.
He 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."
Elsewhere in the company, it will be business as usual. Current Coalfire Federal president Bill Malone will remain at the helm, and Coalfire will continue to provide services to help Department of Defense suppliers prepare for and meet new CMMC (Cybersecurity Maturity Model Certification) regulations.
Apax Partners expressed the belief that, supported by the Apax Funds' investment, Coalfire is perfectly poised for growth.
"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," said Rohan Haldea, partner at Apax Partners.
"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."
During its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of around $50bn. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare, and Consumer.
Sourced from Infosecurity Group - written by Sarah Coble