clixifix® Embarks on New Chapter with Strategic Acquisition by SmartCraft ASA
2 May 2024: In a significant development for the UK construction software ecosystem, clixifix® Ltd. is excited to announce its acquisition by SmartCraft ASA. This strategic move not only signifies clixifix®’s robust growth trajectory but also enhances our market opportunities by integrating with SmartCraft’s expansive European presence.
James Farrell, CEO of clixifix®, remarked on the acquisition: “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.”
Founded in 2012, clixifix® has been at the forefront of digitalising aftercare processes, effectively resolving over 1.8 million defects through our flagship platform. Our solution’s emphasis on customer satisfaction and operational efficiency has secured a commanding position in the market with a 85% recurring revenue stream and low churn rates.
In 2023, clixifix® demonstrated remarkable financial performance, achieving a 50% revenue growth and reaching an ARR of GBP 2.76 million. The first quarter of 2024 continued this trend, with a 30% increase in organic revenue and a notable EBITDA margin of 36%.
clixifix®’s integration into SmartCraft’s portfolio as their 12th acquisition expands our capabilities and resources, promising enhanced value to our 20,000 users across 250 corporate customers. This acquisition not only extends our technological and financial resources but also aligns with our commitment to providing leading-edge, scalable solutions that ensure rapid returns on investment for our clients.
James Farrell adds, “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.”
clixifix® remains dedicated to its mission of excellence and innovation in construction technology, now with enhanced capabilities through SmartCraft’s support.