Francisco Partners agrees to acquire Command Alkon from Thoma Bravo

Francisco Partners has agreed to acquire a majority stake in Command Alkon, a heavy building materials software platform used by over 14,000 plants in more than 80 countries, from Thoma Bravo.

Heidelberg Materials, a global building materials manufacturer and existing minority investor, will retain its stake in the business.

“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 for its customers," said Dennis Lentz, Chief Digital Officer and Member of the Managing Board at Heidelberg Materials.

The transaction is expected to close in the second half of 2026, subject to regulatory approvals.

Deutsche Bank Securities and Paul Hastings advised Francisco Partners; Evercore and Kirkland & Ellis advised Thoma Bravo and Command Alkon.