Francisco Partners has agreed to acquire a majority stake in Command Alkon from Thoma Bravo, supporting the construction technology company’s continued expansion and development of AI-powered capabilities.
Heidelberg Materials will retain its significant minority interest in Command Alkon. Financial terms were not disclosed.
Command Alkon provides software and platform technology for the heavy building materials industry. More than 14,000 plants across over 80 countries use its systems to digitize production, optimize logistics and monitor operations across the construction materials supply chain.
Its Command Cloud platform connects production automation, dispatch, fleets, field operations and financial workflows. The platform also provides a foundation for edge computing, AI-assisted processes and industry-specific decision support.
With Francisco Partners’ investment, Command Alkon plans to expand its agentic AI and autonomous plant operation capabilities, continue scaling globally and further develop its payments offerings.
The investment comes as Command Alkon celebrates its 50th anniversary.
During Thoma Bravo’s ownership, Command Alkon transitioned more of its platform to the cloud, launched Batch AI and the Command Intelligence agentic platform, and expanded through strategic acquisitions.
The transaction is expected to close during the second half of 2026, subject to customary regulatory approvals.
Deutsche Bank Securities is serving as financial advisor to Francisco Partners, and Paul Hastings is acting as legal advisor.
Evercore is advising Thoma Bravo and Command Alkon, with Kirkland & Ellis serving as legal counsel. Skadden is advising Heidelberg Materials.
KEY QUOTES:
“This partnership strengthens our ability to innovate with speed, invest strategically and continue advancing the mission-critical technology our customers rely on every day.”
Martin Willoughby, CEO of Command Alkon
“Its platform is exceptionally well-positioned to deliver on these opportunities, and we see strong potential to further scale its agentic AI and autonomous plant capabilities.”
Petri Oksanen and Quentin Lathuille, Partners at Francisco Partners
