M&A Deal Summary

Apax and Escalate Capital Acquire Coalfire

On December 13, 2019, private equity firm Apax and mezzanine finance firm Escalate Capital acquired information technology company Coalfire from The Carlyle Group and Chertoff Group

Acquisition Highlights
  • This is Apax’s 21st and Escalate Capital’s 6th transaction in the Information Technology sector.
  • This is Apax’s 84th and Escalate Capital’s 37th transaction in the United States.
  • This is Apax’s 4th and Escalate Capital’s 3rd transaction in Colorado.

M&A Deal Summary

Date 2019-12-13
Target Coalfire
Sector Information Technology
Buyer(s) Apax
Escalate Capital
Sellers(s) The Carlyle Group
Chertoff Group
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)
Latham & Watkins (Legal)

Target

Coalfire

Greenwood Village, Colorado, United States
Coalfire is a cybersecurity advisor that helps organizations avert threats, close gaps, and effectively manage cyber risk. By providing independent, tailored advice and services that span the cybersecurity lifecycle, the company helps clients develop scalable programs that improve their security posture. The company today has more than 1,800 government and commercial clients and extensive cloud security experience, working with seven of the top ten SaaS providers. Coalfire was founded in 2001 and is based in Greenwood Village, Colorado.

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Buyer(S) 2

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 219 of 263
Sector (Information Technology) 21 of 30
Type (Secondary Buyout) 47 of 66
State (Colorado) 4 of 5
Country (United States) 84 of 105
Year (2019) 13 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-01 BMI Healthcare

London, United Kingdom

BMI Healthcare is a provider of independent health care services that focuses on clinical excellence, quality of service, and efficiency. BMI Healthcare is based in London.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-13 Aptos

Atlanta, Georgia, United States

Aptos delivers innovative technology solutions that enable apparel, specialty, and general merchandise retailers to engage their customers differently for superior results. Aptos was formed in 2015 and is based in Atlanta, Georgia.

Sell -
Buyer

Escalate Capital

Austin, Texas, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 830M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Escalate Capital Partners is a private investment firm focused on providing capital to expansion and late-stage companies. The Firm focuses its investment activity within the technology, life sciences, and service-based industries. Prospective financing solutions include senior, subordinated and mezzanine debt. Escalate's target investment size is $5 to $30 million. Escalate Capital Partners has offices in Menlo Park, California and Austin, Texas.


DEAL STATS #
Overall 37 of 39
Sector (Information Technology) 6 of 7
Type (Secondary Buyout) 3 of 3
State (Colorado) 3 of 3
Country (United States) 37 of 39
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-25 Entelo

San Francisco, California, United States

Entelo engages in recruiting automation, applying predictive analytics and AI to help find, qualify, and engage with the best talent for the organization. From eliminating unconscious bias within the sourcing process to offering a completely automated sourcing and outreach mode, Entelo goes above and beyond the typical search functionality of a sourcing platform. Entelowas founded in 2011 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-03 J.Hilburn

Lewisville, Texas, United States

J.Hilburn is a luxury menswear company that delivers custom and ready-to-wear apparel, as well as accessories. J.Hilburn is based in Lewisville, Texas.

Sell -

Seller(S) 2

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 381 of 481
Sector (Information Technology) 17 of 22
Type (Secondary Buyout) 83 of 117
State (Colorado) 5 of 6
Country (United States) 215 of 259
Year (2019) 23 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-01 Acosta

Jacksonville, Florida, United States

Acosta Sales & Marketing provides outsourced sales, marketing and merchandising services to manufacturers, suppliers, and producers of consumer packaged goods. Acosta was founded in 1927 and is based in Jacksonville, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-19 Anxin Apartment

Shanghai, China

Anxin Apartment provides employee housing solutions to corporates in the service sectors, focusing on first-tier and core second-tier cities. Anxin operates three brands: Happy Apartment, Cozy Apartment, and Reading Hotel, providing employee housing solutions to approximately 2,000 corporates in the service sectors. Anxin Apartment was founded in 2014 and is based in Shanghai, China.

Buy -
SELLER

Chertoff Group

Washington, District of Columbia, United States

Category Company
Sector Information Technology
DESCRIPTION

The Chertoff Group is a premier global advisory firm focused exclusively on security and risk management. The Chertoff Group helps clients grow and secure their enterprise through business strategy, mergers and acquisitions advisory, and risk management security services.


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-16 Coalfire

Greenwood Village, Colorado, United States

Coalfire is a cybersecurity advisor that helps organizations avert threats, close gaps, and effectively manage cyber risk. By providing independent, tailored advice and services that span the cybersecurity lifecycle, the company helps clients develop scalable programs that improve their security posture. The company today has more than 1,800 government and commercial clients and extensive cloud security experience, working with seven of the top ten SaaS providers. Coalfire was founded in 2001 and is based in Greenwood Village, Colorado.

Buy -