Command Alkon, one of North America's leading digital collaboration platforms for heavy construction and quarrying customers, is close to being acquired by Thoma Bravo, a leading private equity firm focused on the software and technology-enabled services sectors.
The two companies have announced a definitive agreement for the acquisition of Command Alkon by Thoma Bravo from its current owner, Quilvest Capital Partners.
Once completed, the take-over by Thoma Bravo, which is subject to customary closing conditions and regulatory approvals, is expected to "speed the execution of Command Alkon’s strategy to integrate inter-company supply chain operations in heavy construction and quarrying via CONNEX, the company’s technology platform."
By focusing resources and investing in next-generation, vertical-cloud capabilities, customers will benefit from real-time collaboration tools, says the two businesses. These tools will 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 favorable 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."
Thoma Bravo, LLC, is described as "an American private equity and growth capital firm with offices in Chicago and San Francisco. Thoma Bravo has done 230 software deals worth over $68 billion since 2003 and oversees a portfolio of 38 software companies that generate approximately $12 billion in annual revenue and employ 40,000 people. In October 2019, Forbes estimated the value of the firm at $7 billion."
Quilvest, the company’s previous financial investor, has been a partner to Command Alkon and has been dedicated to the company’s growth since 2005. During Quilvest’s ownership, Command Alkon has become the market leader for heavy material production, fulfillment and logistics technology solutions in construction and aggregates.
“I’m so thankful for our 15-year relationship with Quilvest,” added Ramsey. “Their confidence and support have positioned us exceptionally well as we embark on the next chapter of Command Alkon’s growth and industry leadership story.”
Kirkland & Ellis is serving as legal advisor to Thoma Bravo. William Blair is serving as financial advisor to Command Alkon, and Dechert LLP is serving as legal advisor to Command Alkon and Quilvest.
The exact terms of the Command Alkon-Thoma Bravo transaction have not been disclosed.
