Home » UK’s Clixifix acquired by Norwegian SaaS provider

UK’s Clixifix acquired by Norwegian SaaS provider

by Mark Cantrell
Norway's SmartCraft ASA has acquired UK-based Clixifix in a deal expected to enhance the strategic growth of both software-as-a-service (SaaS) providers.

Norway’s SmartCraft ASA has acquired UK-based Clixifix in a deal expected to enhance the strategic growth of both software-as-a-service (SaaS) providers.

Clixifix, founded in 2012, provides the construction industry with a platform for the digital management and resolution of defects. Meanwhile, SmartCraft ASA, based in Hønefoss, provides a range of project management solutions for the craft and construction industries.

According to the two companies, the strategic acquisition not only signifies Clixifix’s “robust growth trajectory” but also “enhances its market opportunities” by integrating with SmartCraft’s expansive European presence.

Gustav Line, chief executive at SmartCraft, said: “We are very excited to welcome Clixifix to the SmartCraft family. With 85% recurring revenue, a modern technology platform, low churn, rapid growth and a highly scalable model, Clixifix is a high-quality platform that stands out in the UK landscape.

“The solution provides great value for its 20,000 users across 250 corporate customers, with rapid return of investment for the system’s customers.”

James Farrell, chief executive of Clixifix, added: “Joining forces with SmartCraft marks a pivotal chapter in our journey. With SmartCraft’s proven excellence in developing top-tier SaaS solutions, we are poised to accelerate our innovation, enhancing our offerings to better serve our ever-growing customer base across the UK. This synergy ensures that Clixifix will continue to lead the way in transforming construction defect management and customer service.”

Clixifix is regarded as being at the forefront of digitalising aftercare processes, effectively resolving over 1.8 million defects through its platform. Its solution’s emphasis on customer satisfaction and operational efficiency is said to have secured it a commanding position in the market.

In 2023, Clixifix’s financial performance saw a 50% growth in revenue, and reached an annual recurring revenue (ARR) of GBP £2.76m. The first quarter of 2024 continued this trend, the company says, with a 30% increase in organic revenue and a notable EBITDA margin of 36%.

Clixifix’s integration into the SmartCraft portfolio is the Nordic business’s 12th acquisition and expands its capabilities and resources. The acquisition not only extends Clixifix’s technological and financial resources but also aligns with its commitment to providing leading-edge, scalable solutions that ensure rapid returns on investment for clients.

Farrell added: “We are thrilled about our future with SmartCraft. Their extensive experience and broad portfolio in construction SaaS will undoubtedly bolster our mission to streamline defect management and improve customer interactions within the construction industry.”

Main image: SmartCraft ASA’s chief executive, Gustav Line, and Clixifix’s managing director, James Farrell

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