Francisco Partners acquires majority stake in Command Alkon

Francisco Partners has agreed to acquire a majority stake in Command Alkon from investment firm Thoma Bravo, in a deal involving a software company whose tools are used across the heavy building materials industry.

The transaction, reported by aggbusiness.com on August 10, 2026, will leave Heidelberg Materials holding its significant minority stake in Command Alkon. The deal is expected to close in the second half of 2026, subject to customary regulatory approvals.

Command Alkon provides software and platform technology for the heavy building materials sector. The company said its technology is used by more than 14,000 plants in over 80 countries to digitize operations, optimize logistics, and provide real-time visibility across the construction ecosystem.

Its Command Cloud platform links key operations through secure, integrated workflows aimed at improving visibility, efficiency, and decision-making. According to the company, the platform is built to support future innovation, including edge computing, AI-assisted workflows, and industry-specific insights, and serves customers in production automation, dispatch, fleet intelligence, connected field technologies, and AI-powered decision support.

Command Alkon CEO Martin Willoughby said the company is entering the next phase of its development after several years of transformation under its current ownership structure.

"We are proud of the innovation we’ve delivered and the trust we’ve built with customers over the past five decades", said Martin Willoughby. "This new partnership strengthens our ability to innovate quickly, invest strategically, and continue advancing mission-critical technology for the heavy building materials industry. Our mission remains unchanged: to help our customers succeed. Together with Heidelberg Materials and Thoma Bravo, we’ve spent the past six years accelerating innovation and transformation across our business - moving the industry to the cloud, expanding our AI capabilities, and achieving strong growth."

Francisco Partners said it sees room for further expansion as infrastructure investment rises in major markets and artificial intelligence takes on a larger role in the sector.

"Command Alkon has built a technology platform powering mission-critical operations in one of the world’s most essential industries", said Francisco Partners partners Petri Oksanen and Quentin Lathuille. "With infrastructure investment accelerating across major markets and AI creating new opportunities to enhance the value Command Alkon can deliver, we see strong potential to scale its agentic AI and autonomous plant capabilities. We look forward to partnering with the Command Alkon team and Heidelberg Materials to support the company’s next phase of growth."

During Thoma Bravo’s period as majority owner, Command Alkon carried out what the company described as a comprehensive digital transformation. That included a cloud transition through Command Cloud, the rollout of AI-enabled tools such as Batch AI and the Command Intelligence agentic platform, and growth through strategic acquisitions.

Heidelberg Materials also signaled its continued involvement through its retained minority holding.

"Command Alkon has successfully driven the digital transformation of our industry and is now focused on unlocking the full potential of AI and autonomous operations", said Heidelberg Materials chief digital officer and managing board member, Dennis Lentz. "After a successful growth period alongside Thoma Bravo, we are excited to partner with Francisco Partners and combine our domain knowledge with their technology expertise to help accelerate Command Alkon’s capabilities and create lasting value."

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