Francisco Partners to Acquire Majority Stake in Command Alkon

Francisco Partners has agreed to acquire a majority stake in Command Alkon, a software and platform technology provider for the heavy building materials industry. The firm is purchasing the stake from Thoma Bravo, while Heidelberg Materials will retain a significant minority share in the company. The transaction is subject to customary regulatory approvals and is expected to close in the second half of 2026.

The investment aims to accelerate Command Alkon's development of agentic AI, autonomous plant operations, and its Command Cloud technology platform. Under previous majority ownership by Thoma Bravo, the company completed a digital transformation and transitioned its core services to the cloud.

The deal occurs during Command Alkon's 50th anniversary as the company works to scale its global operations and expand its payment offerings. CEO Martin Willoughby has stated that the company's mission continues to be helping its customers succeed.