With APAX Acquisition of Coalfire, Government Cyber Practice Becomes Wholly Owned Subsidiary
Coalfire Federal, a wholly owned subsidiary of cybersecurity advisory and assessment services provider Coalfire, announced the promotion of Bill Malone to President. Due to its expanding government security and compliance business, and U.S. foreign investment regulations governing the recent acquisition of Coalfire by U.K.-based Apax Partners, the company’s Federal services practice will now operate independently with its own executive leadership and Board of Directors.
“As one of the Federal market’s only pure-play cybersecurity providers, and one of the few that has achieved all core ISO certifications, Coalfire Federal is at the right place at the right time to build upon our strengths,” said Malone, who had previously served as executive vice president of the business unit. “I appreciate the support and confidence of our CEO Tom McAndrew and Apax Partners, and the opportunity to be able to continue leading Coalfire Federal to enable and protect our clients’ missions.”
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As the leading FedRAMP Third-Party Assessment Organization (3PAO), and with its support of the emerging Cybersecurity Maturity Model Certification (CMMC) program, Coalfire Federal is recognized as a premier cybersecurity partner to major Federal government agencies and defense industrial base clients.
“By leveraging the best practices of Coalfire’s commercial services with our government clients as they move to the cloud, our division marked more than 20% growth in 2019,” said Malone. “With our focus on Federal government services, we look forward to growing independently with the leadership of an outstanding new Board of Directors.”
Appointed as first chair to Coalfire Federal’s independent board is Mary Griggs, a very experienced woman senior executive in national security. Ms. Griggs retired after 32 years of building organizations in the U.S. Intelligence and Security communities, and served at the White House President’s Foreign Intelligence Advisory Board. She has extensive corporate board experience overseeing U.S. government foreign ownership, control and influence (FOCI), and Committee on Foreign Investment in the U.S. (CFIUS) agreements. She served as the Director of Industrial Security for the Defense Security Service (now Defense Counterintelligence and Security Agency) and administered the National Industrial Security Program (NISP) for the Department of Defense (DoD) and other agencies.
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“The federal market is entering a new era in cybersecurity technology adoption,” said Griggs. “The need for Coalfire Federal’s services, especially cloud security and FedRAMP, FISMA, and CMMC advisory and assessment services, has never been more mission-critical for U.S. government agencies. I look forward to directing our board and leveraging our expertise in keeping our clients compliant and cyber safe.”
Also joining the Coalfire Federal board as outside directors are Ed Shapiro and Anna Cotton. Shapiro was most recently a partner and litigator with global law firm Latham & Watkins, and served as Assistant General Counsel of the DoD. Cotton is a former Deputy General Counsel of the National Reconnaissance Office, Assistant General Counsel of the Central Intelligence Agency, and a federal prosecutor.
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