Cobalt Service Partners (“Cobalt”), a platform focused on buying and operating commercial access solutions businesses and backed by Alpine Investors, today announced that it has acquired four more businesses since its launch in December 2023. Joining Cobalt are Automated Door Ways (“ADW”), Toepfer Security (“Toepfer”), Industrial Door Company (“IDC”), and Homeland Safety Systems (“HSS”). With these four acquisitions, Cobalt has expanded its geographical footprint to include the West Coast and Midwest, and its core capabilities to include access control, video surveillance, and overhead doors, among other commercial access and security service offerings.
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About the recent acquisitions:
- ADW was founded in 2005 by Ed Gaffney, who has run the business since its inception. Based in Columbus, Georgia, ADW installs and supports automatic and manual doors for customers across the Southeast.
- Toepfer was originally founded as Toepfer Lock & Safe in 1862. Most recently, it was owned by Ron Lund Jr., whose father bought the business from the Toepfer family in 1982. Based in Waukesha, Wisconsin, Toepfer installs and supports security systems for customers across the country with a focus on the Milwaukee area.
- IDC was founded in 1985 by Sy Fields and his son, Jerry Fields. Jerry has been involved with the business since the beginning, most recently as CEO. Based in Sacramento, California, IDC installs and supports commercial and industrial doors of all types, with a particular focus on overhead doors and dock equipment.
- HSS was founded in 2003 by Tony Marquis. Based in Shreveport, Louisiana, HSS installs and supports security systems for customers across the Southeast, with a particular focus on school districts and correctional facilities.
“We’re thrilled to welcome four fantastic partners to Cobalt and are incredibly grateful that Ed, Ron, Jerry, and Tony have trusted us as the long-term home for their businesses,” said Tyler Hoffman, Co-CEO of Cobalt. “ADW, Toepfer, IDC, and HSS are exceptional businesses built by great people. We’re honored to support them through this next stage of growth.”
“Our primary focus at Cobalt is to support our businesses by removing the biggest roadblocks standing in their way as they scale. Most notably, we love helping them recruit, retain, and develop exceptional technicians,” said Anthony Gonzalez, Co-CEO of Cobalt. “We’ve had a strong first few months rolling up our sleeves with our new partners, and we can’t wait for what lies ahead.”
Cobalt continues to look for market-leading commercial access solutions businesses across the country, and encourages founders and advisors interested in a conversation to reach out via Cobalt’s website.
Exit Stage Left Advisors acted as exit consultant to ADW and Sandra Jones and Company acted as financial advisor to Toepfer.
About Cobalt Service Partners
Cobalt Service Partners buys and builds market-leading access solutions businesses. Cobalt offers founders a long-term home for their business; and through its commitment to people, technology, and unwavering stewardship, Cobalt aims to secure legacies and unlock possibility. For more information, visit www.cobaltsp.com.
About Alpine Investors
Alpine Investors is a people-driven private equity firm committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in the software and services industries. Alpine’s PeopleFirst strategy includes a talent program that allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine has $17 billion in assets under management and has three offices in San Francisco, New York, and Salt Lake City. For more information, visit www.alpineinvestors.com and https://alpineinvestors.com/terms-conditions/ for full disclaimers including, but not limited to, third-party statements and certifications and Alpine Operations Group.
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Audrey Harris
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aharris@alpineinvestors.com
