Francisco Partners Buys Majority Stake in Building Materials Provider Command Alkon

Materials Francisco Partners Buys Majority Stake in Building Materials Provider Command Alkon Terms were not disclosed but Command Alkon will continue to operate under current leadership Command Alkon announced Aug. 4 that global investment firm Francisco Partners has agreed to acquire a majority stake in the concrete materials company. Thoma Bravo Heidelberg Materials, an integrated manufacturer of concrete and other heavy building materials, will retain its minority stake in Command Alkon. "Over the past several years, together with Thoma Bravo and Heidelberg Materials, we have executed a clear long-term strategy focused on helping our customers modernize and connect their operations through Command Cloud," said Command Alkon CEO Martin Willoughy, who will stay on as leader of the Dublin, Ohio-based materials provider. "Together, we have expanded our cloud platform, strengthened our services and laid the foundation for the next generation of AI-powered capabilities." In addition to its homegrown Command Cloud platform that allows contractors and other customers to manage concrete batch creation and delivery, Command Alkon last summer acquired Digital Fleet, a cloud platform for ready mix truck dispatch and delivery. Tim Oakes, former CEO of Digital Fleet, will continue as senior vice president and global head of fleet solutions at Command Alkon. "Francisco Partners shares our long-term vision because they believe, as we do, that the heavy building materials industry deserves technology purpose-built for its unique needs. They are investing in the strategy we've been executing—not replacing it," Willoughby said. Command Alkon will continue to operate under its own name and serve all of the concrete and cementitious materials markets in the U.S. it serves. "Command Alkon has built a technology platform that powers mission-critical operations across one of the world’s most essential industries," said Petri Oksanen and Quentin Lathuille, Partners at Francisco Partners. "Infrastructure investment is accelerating across major markets, and artificial intelligence is significantly enhancing the value Command Alkon can bring to its customers." Willoughby said Francisco Partners shares Command Alkon's long-term vision because "they believe, as we do, that the heavy building materials industry deserves technology purpose-built for its unique needs. They are investing in the strategy we've been executing—not replacing it." Looking for quick answers on construction and engineering topics? Try Ask ENR, our new smart AI search tool. Ask ENR →