diff --git a/src/lib.rs b/src/lib.rs
index 01a0f4c..412e320 100644
--- a/src/lib.rs
+++ b/src/lib.rs
@@ -1,8 +1,10 @@
 pub mod file_types;
 pub mod template;
 
-pub const ENV_VAR_PATTERN_START: &str = "${env:";
-pub const ENV_VAR_PATTERN_END: &str = "}";
+// It could be the case that the colon (:) in the start pattern has been escaped, as e.g. the product-config crate does
+pub const ENV_VAR_START_PATTERNS: [&str; 2] = ["${env:", "${env\\:"];
+pub const ENV_VAR_END_PATTERN: &str = "}";
 
-pub const FILE_PATTERN_START: &str = "${file:UTF-8:";
-pub const FILE_PATTERN_END: &str = "}";
+// It could be the case that the colon (:) in the start pattern has been escaped, as e.g. the product-config crate does
+pub const FILE_START_PATTERNS: [&str; 2] = ["${file:UTF-8:", "${file\\:UTF-8\\:"];
+pub const FILE_END_PATTERN: &str = "}";
diff --git a/src/template/mod.rs b/src/template/mod.rs
index 9f89fa9..6425244 100644
--- a/src/template/mod.rs
+++ b/src/template/mod.rs
@@ -9,7 +9,7 @@ use snafu::{OptionExt, ResultExt, Snafu};
 
 use crate::{
     file_types::{FileType, KNOWN_FILE_TYPES},
-    ENV_VAR_PATTERN_END, ENV_VAR_PATTERN_START, FILE_PATTERN_END, FILE_PATTERN_START,
+    ENV_VAR_END_PATTERN, ENV_VAR_START_PATTERNS, FILE_END_PATTERN, FILE_START_PATTERNS,
 };
 
 pub mod cli_args;
@@ -141,23 +141,31 @@ fn run_all_replacements_on_line(
     escape: bool,
 ) -> Result<()> {
     loop {
+        #[allow(clippy::type_complexity)] // It's only used in a single place
+        let mut replacements: Vec<(&str, &str, fn(&str) -> Result<String>)> = Vec::new();
+
+        for start_pattern in ENV_VAR_START_PATTERNS {
+            replacements.push((
+                start_pattern,
+                ENV_VAR_END_PATTERN,
+                replacement_action_for_env_var,
+            ));
+        }
+        for start_pattern in FILE_START_PATTERNS {
+            replacements.push((start_pattern, FILE_END_PATTERN, replacement_action_for_file));
+        }
+
         let mut changed = false;
-        changed |= replace_thingy_in_line(
-            line,
-            ENV_VAR_PATTERN_START,
-            ENV_VAR_PATTERN_END,
-            replacement_action_for_env_var,
-            file_type,
-            escape,
-        )?;
-        changed |= replace_thingy_in_line(
-            line,
-            FILE_PATTERN_START,
-            FILE_PATTERN_END,
-            replacement_action_for_file,
-            file_type,
-            escape,
-        )?;
+        for (start_pattern, end_pattern, replacement_action) in replacements {
+            changed |= replace_thingy_in_line(
+                line,
+                start_pattern,
+                end_pattern,
+                replacement_action,
+                file_type,
+                escape,
+            )?;
+        }
 
         if !changed {
             break;
diff --git a/tests/resources/properties/security_escaped_command.properties.expected b/tests/resources/properties/security_escaped_command.properties.expected
new file mode 100644
index 0000000..153bbf3
--- /dev/null
+++ b/tests/resources/properties/security_escaped_command.properties.expected
@@ -0,0 +1,3 @@
+# We must also recognize commands where the colon was escaped
+test.from.env=foo
+test.from.file=42
diff --git a/tests/resources/properties/security_escaped_command.properties.in b/tests/resources/properties/security_escaped_command.properties.in
new file mode 100644
index 0000000..078eb87
--- /dev/null
+++ b/tests/resources/properties/security_escaped_command.properties.in
@@ -0,0 +1,3 @@
+# We must also recognize commands where the colon was escaped
+test.from.env=${env\:ENV_TEST}
+test.from.file=${file\:UTF-8\:${env\:${env\:FILE_TEST_42_FILE_ENV_NAME}}}