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Through four generations, since 1913 when the family started in the scrap metal business, the Blue family has built an affiliation of companies based on expertise, entrepreneurial spirit, and sound business judgment. Louisville Scrap Material Company, Indigo Rail Resources, River City Shredding Company, Kentucky Railquip and Gallatin Mill Services were some of the businesses in The Blue Industrial Group portfolio that Todd Blue, his brother Jonathan, and their father David grew into an international success.

In March of 1998, after years of working together with his family, an entity co-managed by Todd Blue purchased the business from his Father and later sold substantially all the assets of The Blue Industrial Group to an NYSE utility company. After completing an employment contract (which was part of the consideration for the sale of the business) Todd Blue transformed Cobalt into an operating business in December of 1999 beginning with its first downtown real estate development project in Louisville, Kentucky.

Since that time, while real estate has been the company focus, businesses in which Cobalt has been actively involved or invested include real estate, fast food restaurants, financial services, parking facilities, sports event lending, phone directories, insurance, mining, art, cost containment, and others.