Francisco Partners is in advanced talks to acquire a controlling stake in construction software maker Command Alkon for as much as $1.3bn, according to Bloomberg sources. A deal could be announced within days, though talks could still end without an agreement.

The remaining 45% sits with Heidelberg Materials, the German building materials group and Command Alkon's largest customer, which acquired its position from Thoma Bravo in 2021 in a deal that valued the business at around $1.7bn. For Thoma Bravo, a sale would mark an exit from an asset it has held since 2020, when the firm acquired the Ohio-based company.

Command Alkon supplies software to producers and suppliers of aggregates, cement, asphalt, concrete products, and ready-mix, and operates offices across multiple regions. Should it complete, the transaction would hand Francisco Partners control of a proven vertical software platform while allowing Thoma Bravo to crystallise value on a six-year hold, with Heidelberg Materials retaining its strategic minority stake alongside the new backer.