Cybersecurity consultancy Coalfire acquired by London-based private equity firm Apax Partner

An international cybersecurity consultancy with its UK headquarters based in Manchester has been acquired by a London-based private equity firm.

Coalfire, a provider of cybersecurity advisory and assessment services, on Friday announced that its acquisition by funds advised by Apax Partners has been finalised following full regulatory approval, although financial terms were not disclosed.

Rohan Haldea, partner at Apax Partners, said: “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.”

The deal represents an exit for previous US backers The Carlyle Group and The Chertoff Group.

Tom McAndrew, Coalfire CEO, 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.”

Coalfire Federal will continue under the leadership of Bill Malone, Coalfire Federal President, and carry on supporting its clients in enabling and protecting their critical missions.

Among other focus areas, Coalfire will continue to provide services to help Department of Defense suppliers prepare for and meet new regulations.