Cobalt Service Partners (Cobalt), a commercial access solutions platform backed by Alpine Investors (Alpine), announces its acquisition of Automatic Entrances of Wisconsin (AEW), Wisconsin’s automatic door installation and service provider. AEW is Cobalt’s ninth acquisition since launching in December of 2023, and its eighth acquisition of 2024.
AEW was founded by Bill Holcomb in 1976 when he and his wife acquired a failing automatic door distributor and refocused the business. Bill brought on a young salesman, Jay Walt, in 1978, and Bill and Jay grew the business consistently but thoughtfully over the subsequent decades.
Automatic door business
“We grew the business with two guiding principles,” said Holcomb. “First, ‘Service feeds sales…which feeds service,’ and second, ‘Treat the customer the way you would expect if you were the customer’.” Guided by these principles, AEW has solidified its position as Wisconsin’s premier automatic door business.
AEW has solidified its position as Wisconsin’s premier automatic door business
After over a century of combined experience in the industry, Holcomb and Walt began thinking about selling the business. They wanted to see the brand and legacy of AEW live on and wanted to ensure that the AEW team and customers would be in good hands. They also were looking for a fresh perspective and access to resources so that AEW could continue growing and meeting the ever-evolving needs of the market.
Ever-changing demands
They ultimately decided to partner with Cobalt because they felt Cobalt’s philosophy aligned with these objectives. “The arrival of Cobalt into the marketplace offered a respectful approach to the culture we had fostered, and their commitment to the employees that built our business matched our wishes,” said Holcomb and Walt. “Cobalt also offered high level assistance to meet the ever-changing demands of today’s workplace. With Cobalt’s vision, resources, and commitment to the future, we feel confident our legacy is secure.”
“We couldn’t be more excited to welcome Jay, Bill, and the whole AEW team into Cobalt,” said Anthony Gonzalez, Co-CEO of Cobalt. “Jay and Bill have built a behemoth in the automatic door market by taking great care of their people and by providing excellent service to customers. We’re eager to double down on what made AEW great and are grateful for the opportunity to support the AEW team through this exciting next chapter.”
Coinciding with the transaction, Holcomb has retired after nearly 50 years as AEW’s owner, and Walt will continue with the business. Over time, Cobalt will look to supplement the AEW team with additional leadership talent to help support its continued growth.
