SmartCraft buys LiveCosts in €8.45M deal to expand in UK
What's the deal? SmartCraftDealroom has a profile for this one. Try Dealroom → has acquired 100% of Ground Up Software LimitedDealroom has a profile for this one. Try Dealroom →, the Irish maker of cloud-based cost control platform LiveCostsDealroom has a profile for this one. Try Dealroom →, in a deal with an enterprise value of €8.45 million. The platform gives small and medium-sized (SME) contractors live control of project budgets and costs.
The terms: SmartCraft will pay €6.20 million at closing, with a further €2.25 million tied to continued ARR growth and improved profitability through the end of 2029. LiveCosts adds annual recurring revenue (ARR) of €1.77 million, up 60% year on year, at a 15% EBITDA-capex margin.
Who's involved? LiveCosts was founded by former contractors Ciarán and Niall Brennan, and serves hundreds of customers, mostly in the UK and Ireland. Its founders and management will continue to lead the company.
The market expansion: The deal deepens SmartCraft's presence in the UK and Ireland, where LiveCosts already earns the bulk of its revenue. SmartCraft sees room to grow further and increase its UK market share.
Why now? LiveCosts targets a workflow where more than half the market still relies on spreadsheets. "The need here is acute and largely unmet. Most contractors still track project costs manually," said Jeremias Jansson, chief executive officer of SmartCraft.
What's the endgame? SmartCraft is buying a product that lets contractors track costs while a project is still running, rather than after the fact. "In essence, it helps customers to run profitable projects," Jansson said.
The signal: The deal reflects a wider push to bring cheap, cloud-based tools to SME contractors underserved by ERP systems built for larger firms. By acquiring a profitable, founder-led target, SmartCraft is betting that consolidation, not just organic growth, will win it the fragmented UK construction software market.
Read more: smartcraft.com
Image credit: LiveCosts
