Command Alkon and Thoma Bravo, a private equity firm focused on the software and technology-enabled services sectors, announced a definitive agreement for the acquisition of Command Alkon by Thoma Bravo from its current owner, Quilvest Capital Partners. The transaction is subject to customary closing conditions and regulatory approvals. Terms of the transaction were not disclosed.
Once completed, the acquisition by Thoma Bravo is expected to speed the execution of Command Alkon’s strategy to integrate inter-company supply chain operations in heavy construction via CONNEX, the company’s many-to-many technology platform.
By focusing resources and investing in next-generation, vertical-cloud capabilities, customers will benefit from real-time collaboration tools that replace manual and paper-based processes, maximise efficiency and productivity, improve real-time decision making, and ensure certainty of project outcomes.
“This agreement is a testament to Command Alkon’s sustained growth, leading market position, and the opportunities opened by our purpose-built platform for heavy construction,” said Larry Neubauer, a senior partner at Quilvest and chairman of the board at Command Alkon. “Both the board and Quilvest are excited to announce Thoma Bravo’s stewardship of the company. Their investment track record in B2B enterprise software should only accelerate the integration of the heavy construction supply chain and deliver more value to customers faster.”
“We’ve had the benefit of knowing and watching Command Alkon and Phil Ramsey for over a decade now,” said A.J. Rohde, a partner at Thoma Bravo. “We believe in the company’s vision of an integrated supply chain across the heavy construction market, and we can bring our world-class operating principles to help realise their vision faster for the benefit of all constituents.”
“After an extensive evaluation of strategic alternatives, we are confident this agreement represents the most favourable outcome for our amazing industry, customers and employees,” said Phil Ramsey, CEO at Command Alkon. “Thoma Bravo adds strategic and operational expertise to our business, with a keen focus on executing on our long-term strategy. We look forward to working closely with all parties to complete this transaction.”
George Jaber, a vice president at Thoma Bravo added, “Command Alkon has built the industry-leading set of applications for heavy building material producers, suppliers, and contractors. Command Alkon’s customers are increasingly looking for ways to modernise and go digital, and with our partnership we expect to continue to invest in new products to help customers do so.”