Cobalt Service Partners just announced its acquisition of Digi Security Systems.
Cobalt is a commercial access solutions platform backed by Alpine Investors. Meanwhile, Digi is a leading commercial security integrator. As Cobalt acquires Digi this month, the company marks its seventh acquisition since launching last December.
Digi was founded in Tulsa, Okla., in 2003 by its president, Joshua Herron. At the time he founded Digi, Herron was a software developer at RAE Corporation, a commercial refrigeration and HVAC manufacturing company. Herron started helping out local organizations with security system installation and maintenance. Not long thereafter, Digi became established as a standalone business within RAE.
Fast-forwarding more than 20 years, Digi has more than 100 employees across its offices in Tulsa, Oklahoma City and Dallas. What’s more, the company has served more than 1,000 customers. Digi supports customers across numerous commercial end markets; however, it has a particularly impressive history working with education-focused organizations, such as public schools and universities.
With these organizations’ security estates becoming more important (and more complex) than ever, Digi’s work is especially vital.
Cobalt Acquires Digi and Executive Team Remains in Place
Under Cobalt’s ownership, Herron, along with the rest of the Digi executive team, will continue in their current roles. That includes vice president Tyler Nichols, chief people officer Brooke Lade and vice president of operations Kaitlyn Verity.
In addition, to buttress the team and accelerate business growth, Cobalt intends to appoint a CEO for Digi in the near future.
“The Cobalt team is phenomenal,” Herron enthuses. He continues, “Over a hundred companies sought our partnership, but Cobalt stood out as a team fully dedicated to the same thing we are: people. We couldn’t be more excited about this next era in Digi’s history.”
Eric Swank, CEO of RAE Corp., adds, “I couldn’t ask for a better company than Cobalt to partner with Digi.” He continues, “Cobalt’s culture and performance were a perfect fit for us, and the combination will lead to even greater performance for Digi’s people and partners.”
According to Anthony Gonzalez, co-CEO of Cobalt, “Digi is an exceptional business with exceptional people.” He adds, “Digi is exactly the kind of organization Cobalt is looking to partner with, and we are truly honored that Eric and the Digi team chose Cobalt as Digi’s home for this exciting next chapter.”
As Cobalt acquires Digi this month, Infinity Capital Partners served as Digi’s sole financial advisor; meanwhile, McAfee & Taft served as Digi’s legal counsel. Kirkland & Ellis was legal counsel to Cobalt.
