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Business critical SaaS solutions for the construction industry
Digital solutions for construction companies in Norway, Sweden and Finland
Market leader with deep domain expertise within the construction industry
Mission critical software at a small ticket size for customers
User-friendly full SaaS offering
Market leader in a fragmented market with vast potential for digitization
- Construction industry among the 10% least digitized industries
- Construction workers in SME companies spend majority of time on administrative or other unproductive tasks
- SmartCraft is the enabler for construction companies and craftsmen to go digital
- Addressing a currently fragmented market estimated at NOK 10.5bn when fully penetrated, implying a 15% CAGR in the period 2020-2025
Outstanding financial track record with high growth, scalability and strong cash generation
- Revenue CARG 2018-2021: 53% to NOK 270.8 million
- ~95% recurring revenue
- High adjusted EBITDA margin of ~40%, supported by growing subscription base, increased average revenue per customer and sustained low churn
- >100% cash conversion, supported by negative net working capital as a result of up-front payments
Targeting high growth and margin improvement medium term
- Organic growth of 15-20% with bolt on M&A on top
- Margin expected to increase due to scalability of platform
Multiple levers for organic growth driven by a strong commercial organization and proven go-to-market model
- Continue to capitalize on position and underpenetrated market
- Up-selling and price optimization
- Cross-selling existing portfolio of services and modules across segments and geographies
- Deepen and expand presence – entering new industry verticals and adding new SaaS modules
- Shared product & tech investments with gradual development towards shared infrastructure across solutions
Continued M&A ambitions with strong M&A track record
- Eight successful acquisitions in the period 2017-2022
- Targeting complimentary solutions or similar best-in-class solutions in new geographies
- Acquired companies serve as bridgeheads for cross-selling of existing services
- Proven M&A process, identifying targets, integrating acquired solutions and growing through cross-selling and other synergies
- Significant M&A pipeline with double digit ongoing dialogues
- Capital discipline and to avoid overpaying takes highest priority
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