SAN FRANCISCO--(BUSINESS WIRE)--Alpine Investors (“Alpine”) today announced the launch of Cobalt Service Partners (“Cobalt”), a new platform focused on buying and building exceptional access solutions businesses. In conjunction with the launch, Cobalt announced its acquisition of Piedmont Door Solutions (“Piedmont”), a premier provider of commercial doors and entrance solutions with locations across the Southeast, Southwest, and Mid-Atlantic.
Cobalt buys market-leading businesses across the following access solutions categories: overhead doors and docks, commercial doors, security gates, access control systems, and video surveillance systems. Building on Alpine’s PeopleFirst approach, Cobalt looks to accelerate organic growth of its businesses with a relentless focus on attracting and engaging top talent at all levels.
Piedmont was founded in Charlotte, North Carolina in 2001 by Pat Keane and has been led by industry veteran Chris Mitchell since he invested in the business in 2016. With an amazing team and best-in-class design, installation, and maintenance services across a variety of commercial door products, Piedmont has successfully expanded its operation throughout the Southeast, Southwest, and Mid-Atlantic. Under Cobalt’s ownership, Chris Mitchell will continue as CEO of the business, while Tarrell Graham has been promoted to Chief Operating Officer, and Keith Mehltretter and Jim Adams have been promoted to Regional Vice Presidents.
“I couldn’t be more excited for Piedmont’s future,” said Chris Mitchell. “We’ve achieved so much as a team, and this partnership with Cobalt enables us to go faster and bigger than we ever imagined would be possible. It also secures Piedmont’s future for generations to come. On behalf of the entire Piedmont team, we’re thrilled for what lies ahead.”
“I feel tremendous pride in what we’ve accomplished over the past 22 years and gratitude that Piedmont’s legacy will live on under Cobalt,” said Pat Keane. “I couldn’t be more excited about the possibility of Piedmont’s model and mission expanding nationwide."
Tyler Hoffman and Anthony Gonzalez will lead Cobalt as Co-CEOs, with Tyler overseeing M&A and Anthony overseeing organic growth. Tyler was previously CEO of Radicle Health, an Alpine software business that completed eight acquisitions during Tyler’s tenure. Anthony served in Congress from 2019 to 2023, where he had the privilege of representing his hometown district of Cleveland, Ohio. He previously worked as Chief Operating Officer at InformedK12, an EdTech startup, and led sales at Beneco, an Alpine portfolio company. Anthony was also a first round-draft pick of the Indianapolis Colts in 2007.
“We’re thrilled to launch Cobalt Service Partners to offer founders a long-term home for their business and support the blue-collar workers driving their communities forward. We couldn’t be happier to start this journey with Chris and the incredible Piedmont team,” said Tyler Hoffman and Anthony Gonzalez.
Cobalt is actively looking for exceptional access solutions businesses across the country. Founders and advisors interested in learning more should contact Tyler Hoffman at tyler.hoffman@cobaltsp.com.
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 Piedmont Door Solutions
Piedmont Door Solutions designs, installs, and maintains commercial doors throughout the Southeast, Southwest, and Mid-Atlantic with locations in Charlotte, Raleigh, Greensboro, Columbia, Atlanta, Houston, Dallas, Birmingham, and Lake Worth. Piedmont works across a wide variety of commercial customer segments and specializes in high-stakes, high-traffic environments like hospitals and schools. For more information, visit Piedmont’s website at www.piedmontdoorsolutions.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 $16 billion in assets under management as of June 30, 2023, and has three offices in San Francisco, New York, and Salt Lake City.1 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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1 Inclusive of additional commitments to the continuation fund as of October 20, 2023 and fair market value as of June 30, 2023.
