- The investment will drive PR0PH3CY’s growth, continuing its buy and build strategy, and help it expand to new markets
- Carlyle’s cyber security expertise and international network will support PR0PH3CY long-term ambitions
- As part of the transaction, PR0PH3CY will launch its company rebrand, changing its name to “NEVERHACK”
Paris, France – Global investment firm Carlyle (NASDAQ: CG) announced today that it has entered into exclusive negotiations to acquire PR0PH3CY, a leading “one-stop-shop” cybersecurity services business in France. As part of the transaction, PR0PH3CY will launch its company rebrand, under the new name “NEVERHACK”, reflecting its evolution into becoming a pure-play cyber security services business. The terms of the transaction were not disclosed.
Based in Paris, PR0PH3CY is a fast-growing cybersecurity services company, operating across the entire cyber services value chain with expertise in cyber strategy, risk and identity management, audit and configuration of security software and hardware (Net/DevSecOps), training and upskilling services, and AI tools. With more than 600 employees, including c. 370 consultants, PR0PH3CY has nine offices across Europe and Canada. The company serves a highly diversified blue-chip customer base from a range of sectors, including Financial Services, Transport and Consumer Goods.
The Carlyle Europe Technology Partners (“CETP”) platform will support PR0PH3CY’s growth as a leading one-stop-shop cybersecurity services business to establish a category leader and consolidator in the cybersecurity sector. Carlyle will work with management to continue the company’s buy-and-build strategy to gain further scale, broaden its service portfolio, and expand internationally.
Carlyle will leverage its longstanding track record of cybersecurity investments, including in 1E, ManTech, Coalfire, iC Consult, NetMotion, ITRS, Booz Allen Hamilton and Hack The Box.
Charles Villet, Managing Director in the CETP investment advisory team, said: “In PR0PH3CY we recognised a fantastic opportunity to support an attractive and growing consolidation platform in the fragmented cybersecurity sector. PR0PH3CY’s customers have an ever-increasing set of requirements for a broadening mix of advanced cybersecurity services, and we believe the business is well-positioned to deliver on this opportunity and expand in Europe. In our view, the opportunity to partner with PR0PH3CY to develop the business is perfectly suited to Carlyle’s expertise, and we look forward to working with Arthur and the entire team.”
Arthur Bataille, CEO of PR0PH3CY, said: “With Carlyle’s experience of scaling and internationalising cyber security businesses like PR0PH3CY, we believe they are the perfect partner for our next stage of growth. We look forward to working with the Carlyle team as we enter the next phase of our growth journey.”
The transaction is subject to works council consultation and customary regulatory approvals.