On April 23, 2020, the provider of cybersecurity advisory and assessment services announced that the acquisition is complete following the full regulatory approval. But, the financial details are yet to be disclosed to those it concerns.
The news first came up earlier this month during an event when Anne Bayerkohler, the company’s director of quality and compliance, was bestowed by Consulting Magazine’s Women Leaders in Technology Award in the Excellence in the Leadership category.
Talking about the acquisition, Coalfire CEO Tom McAndrew gave insights on what is in the pipeline for the freshly acquired company. 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.”
Apax Partners expressed the belief for Coalfire that it is perfectly poised for growth.
Rohan Haldea, a spokesperson from Apax Partners, added, “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.”
Apart from this, Coalfire Federal will continue under the leadership of Bill Malone, President, with its separate board. The cybersecurity firm will also continue rendering its services to help the Department of Defense suppliers prepare for and meet new CMMC (Cybersecurity Maturity Model Certification) regulations.
About acquirer and acquiree companies
Coalfire is known for offering cyber-risk management, advisory, technology, and compliance services. It has been a cybersecurity leader for 20 years and has offices throughout the US and Europe, whereas Apax Partners is a leading global private equity advisory company. Being in the industry for 40 years, it has raised approximately USD 50 billion so far. These funds are put forward to build and strengthen world-class tech and amp; telco, services, consumer, and healthcare sectors.