PE-backed MorganFranklin Cyber could look to Europe, Middle East for buys – CEO
- Companies with 10–100 employees could fit
- Identity and access management is largest segment
- Acquired Lynx Technology Partners on 6 November
MorganFranklin Cyber, a private equity-backed cybersecurity advisory and managed services firm, could look at additional acquisitions after its first add-on, said CEO Keith Hollender.
The company would consider tuck-in acquisitions ranging from 10 employees to larger companies with 50–100 employees, noting that smaller companies come to market more frequently. Hollender said he welcomes ideas about targets.
It could acquire to strengthen capabilities in its largest segment—identity and access management, which is enjoying high demand—or to grow its cloud security segment.
The firm is interested in targets in the Middle East and Europe to expand into those regions. It already has an office in Prague, so European deals are more likely to be in Western Europe. MorganFranklin Cyber has established a committee to strategize growth in both regions.
In June, Hollender told Mergermarket the company was considering acquisitions. The company spun out of Vaco in January through a management buyout backed by M/C Partners. It was incubated within Vaco starting in 2018 and launched commercially in 2020.
“The market continues to consolidate from fragmented point solutions to platforms,” Hollender said. M/C Partners would be willing to provide additional capital for larger deals.
Deals on the services side tend to be smaller than product-oriented deals. On 6 November, the New York-based company acquired Lynx Technology Partners for undisclosed terms—the first add-on since MorganFranklin Cyber was acquired by M/C Partners on 1 January.
Hollender knew Lynx founder and Chairman Aric Perminter before starting MorganFranklin Cyber, and the companies had collaborated for several years. There was no auction process; conversations began early this year.
Both companies work mainly with enterprises. Hollender said the industry is shifting from point-in-time risk assessments to continuous risk governance and monitoring. Lynx offers GRC as a service, extending MorganFranklin Cyber offerings. Lynx has fewer than 20 employees. Following the acquisition, MF Cyber has about 300 employees.
Forvis is MorganFranklin Cyber auditor, and Cozen O’Connor is its legal adviser. There was no lender on the Lynx deal, but the company would not rule out using debt for future M&A.
This article is based on coverage by Mergermarket and is shared with permission. The original article, “MorganFranklin Cyber Could Look to Europe, Middle East for Buys – CEO” published on November 17, 2025, by Marlene Givant Star, is available to paid subscribers via ION Analytics | Mergermarket.