Cobalt Acquires Nashville Door Closer
New York, NY (December 17, 2024) – Cobalt Service Partners today announced that it has acquired Nashville Door Closer (“NDC”), a commercial pedestrian door installation and service business based in Nashville, Tennessee. NDC is Cobalt’s 11th acquisition since launching in December of 2023, and its tenth acquisition of 2024.
LW Loyd, a WWII Navy Veteran, founded the business in 1975, and originally focused on repair of door closers and hydraulic equipment like floor jacks. Over time, the business scope expanded to include commercial door installation and locksmithing services. LW’s grandson, Ben Loyd, began working in the business in 1995, and after nearly twenty years growing and professionalizing the operation, became its sole owner in 2012.
“I strove to hire leaders and top-notch technicians and create a work environment that supported growth and opportunity for our whole team,” said Ben. “We have worked hard to build a customer base that trusts us to keep their commercial buildings safe and secure at a fair price. Some of our customers have been with us since the beginning!”
“We’re thrilled to team up with Ben, Jill, and the whole team at NDC”
A sale was not top of mind for Ben, who had his hands full running the business. He began to entertain an acquisition in 2024, though, after receiving several unsolicited offers. After many conversations, Ben chose Cobalt because he thought it would result in the best outcome for his employees and his customers. “Most of the offers were not in the best interest of my team or customers…then I met with Cobalt,” said Ben. “They offered a huge opportunity for NDC and our employees. Not only did Cobalt assure me of maintaining our legacy, culture, and family style atmosphere, but they also have a plan for advancement opportunities for our staff.”
“We’re thrilled to team up with Ben, Jill, and the whole team at NDC,” said Tyler Hoffman and Anthony Gonzalez, Co-CEOs of Cobalt. “NDC is an exceptional business in a great market, and we’re eager to amplify the values and best practices that have been honed over nearly 50 years!”
Coinciding with the transaction, Ben will transition out of the day-to-day operation of the business. Cobalt has hired Blake Hogan, former Marine Corps Officer and CEO of Bunker Labs, as NDC’s next CEO.
Tressler & Associates served as NDC’s legal counsel on the transaction.
For more information on NDC’s story, click here.