Cobalt Service Partners announces acquisitions of four security companies

NEW YORK – Cobalt Service Partners, a platform focused on buying and operating commercial access solutions companies and backed by Alpine Investors, recently announced that it has acquired four more companies since its launch in December 2023.

Cobalt joins Automated Door Ways, Toepfer Security, Industrial Door Company and Homeland Safety Systems. With these four acquisitions, Cobalt has “expanded its geographic footprint to include the West Coast and the Midwest, and expanded its core capabilities to include access control, video surveillance and overhead doors, among other commercial access and security services,” according to the announcement.

Here’s more from Cobalt on the company’s recent acquisitions:

• ADW was founded in 2005 by Ed Gaffney, who has led the company since its inception. Based in Columbus, Georgia, ADW installs and supports automatic and manual doors for customers throughout the Southeast.
• Toepfer was originally founded as Toepfer Lock & Safe in 1862. Most recently it was owned by Ron Lund Jr., whose father purchased the company from the Toepfer family in 1982. Based in Waukesha, Wisconsin, Toepfer installs and supports security systems for customers nationwide, with an emphasis on the Milwaukee area.
• IDC was founded in 1985 by Sy Fields and his son Jerry Fields. Jerry has been involved with the company since its inception, most recently as CEO. Based in Sacramento, California, IDC installs and supports all types of commercial and industrial doors, 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 throughout the Southeast, with a particular focus on school districts and correctional facilities.

Why Cobalt made these four acquisitions

“We are thrilled to welcome four fantastic partners to Cobalt and are incredibly grateful that Ed, Ron, Jerry and Tony have trusted us as the home for their long-term businesses,” said Tyler Hoffman, co-CEO of Cobalt, in the company announcement. “ADW, Toepfer, IDC and HSS are exceptional companies built by great people. We are honored to support them during this next phase of growth.”

“Our primary focus at Cobalt is to support our businesses by removing the biggest barriers to their ability to scale. Most notably, we are excited to help them recruit, retain and develop exceptional engineers,” said Anthony Gonzalez, co-CEO of Cobalt, in the company announcement.

“We have had a strong first few months of rolling up our sleeves with our new partners, and we can’t wait for what lies ahead,” he said.

Cobalt “continues to identify market-leading commercial access solutions companies across the country, and encourages founders and advisors interested in a conversation to reach out through Cobalt’s website,” according to the company announcement.

Exit Stage Left Advisors acted as exit consultant for ADW and Sandra Jones and Company acted as financial advisor for Toepfer.

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