Codenor Rehabilitaciones SL

What Codenor Rehabilitaciones SL does

Codenor Rehabilitaciones SL (legal name: CODENOR Bizkaina de Rehabilitaciones S.L.) is a Spanish specialty contractor focused on building envelope rehabilitation and energy-efficiency retrofitting, headquartered in the Basque Country. The firm delivers Thermal Insulation Composite Systems (SATE), ventilated façade installations, and Passive House-standard construction for residential and commercial buildings. Its technical capability is anchored by a team of more than 30 professionals and a cumulative track record of over 600 executed projects representing more than 1 million square meters of installed envelope surface, with primary operations in Bizkaia and Cantabria.

The company's service offering extends beyond pure construction into subsidy intermediation: it processes public funding applications on behalf of property owners, including Next Generation EU funds administered through IDAE, materially lowering the effective cost of energy retrofits for client communities. Codenor holds Passive House Institute alignment credentials and the Sello CIEGE 2023 certification for workplace equality, and is supplied by materials manufacturers STO, Caparol, Trespa, NBK, and Onduline, with technical collaboration from studio I2G arquitectos.

Commercially, Codenor pursues a project-based revenue model combining construction contracts with fee-based subsidy processing services. Its go-to-market is regional, concentrated in the Basque Country with a recently opened Cantabria office in Revilla de Camargo. Customer segments are diversified across homeowner associations (the primary volume driver), architects and technical specifiers, property administrators, and individual property owners. The firm operates as an independent private company with no disclosed institutional investors.

Name

Codenor Rehabilitaciones SL

Legal name

CODENOR Bizkaina de Rehabilitaciones S.L.

Website

https://codenor.net

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Codenor Rehabilitaciones SL is a Basque Country-based specialty contractor delivering energy-efficiency building envelope retrofits, including SATE insulation, ventilated façades, and Passive House-standard installations, primarily for homeowner associations across northern Spain.

Ownership category

akta.pro rank

Product category

Building Rehabilitation Services

NAICS

Roofing Contractors (238160), Residential Building Construction (2361), Drywall and Insulation Contractors (238310)

SIC

Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Gutters, Downspouts & Drainage (Install/Repair) (HSAPAKAG)

akta.pro secondary industry

Full Gut Renovation (Studs-Out Remodel) (HSAPAEAA)

Keywords

• Façade rehabilitation services
• Thermal insulation systems
• Building energy retrofitting
• Roof rehabilitation services
• Passive house construction

Headquarters

HQ city

Leioa

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Construction and Rehabilitation Services: One-time project-based revenue from façade rehabilitation, roof rehabilitation, elevator installation, and lifeline installation services. Revenue is earned per project based on scope, materials, and building size.
2. Subsidy and Financing Administration: The company also earns revenue by processing government subsidies (Ayudas Next Generation, IDAE) and arranging financing for clients. They report 100% success rate in subsidy and financing processing.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Codenor Rehabilitaciones SL is a specialized construction and rehabilitation contractor that delivers building façade and roof rehabilitation projects using SATE (External Thermal Insulation Composite Systems) and ventilated façade technologies, complemented by PassivHaus-certified execution and full administration of EU Next Generation and IDAE government subsidies. Its offering also includes elevator installation and safety lifeline (línea de vida) installation as ancillary building-improvement services, with end-to-end project management from pathology study through to final works review.

Product overview

Codenor Rehabilitaciones SL is a specialized construction and rehabilitation company operating primarily in Bizkaia, Spain. The company offers a unified service portfolio centered on building facade and roof rehabilitation, with the SATE (Thermal External Insulation System) as its core technology product, complemented by ventilated facade solutions. Additional services include PassivHaus certification consulting, EU Next Generation subsidy assistance, and IDAE funding management. The company has completed over 600 projects and installed over 1 million m² of facades, serving communities of owners, architects, property managers, and private clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Façade Rehabilitation (Rehabilitación de Fachadas)
• Roof Rehabilitation (Rehabilitación de Tejados)
• PassivHaus Certification Services (PassivHaus)
• Next Generation EU Subsidy Assistance (Ayudas Next Generation)
• Financing and Subsidy Administration (Financiación y Ayudas)
• Elevator Installation (Instalación de Ascensores)
• Safety Lifeline Installation (Líneas de Vida)

Quantifiable outcome

• Up to 80% of rehabilitation costs covered by government subsidies
• +5 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• STO (Sto Ibérica)coreTechnology or IntegrationPrimary materials partner for SATE systems and ventilated façade solutions. STO is a German manufacturer providing thermal insulation systems, decorative finishes (Cuzco, Florencia models), and StoVentec ventilated façade technology used across numerous Codenor projects.
• CaparolcoreTechnology or IntegrationMaterials supplier for SATE systems, including the Meldorfer acrylic brick tile system used as an alternative to ceramic tiles in some rehabilitation projects.
• IDAE (Instituto para la Diversificación y Ahorro de la Energía)coreOthersSpanish government energy efficiency institute whose subsidies and grants are processed by Codenor on behalf of its clients. Codenor has successfully processed multiple IDAE subsidy applications worth hundreds of thousands of euros per project.
• Passive House InstitutecoreTechnology or IntegrationCertifying body for Passive House (PassivHaus) standards. Codenor holds official certification as PassivHaus-licensed technicians for execution of Passive House buildings.
• I2G arquitectosminorStrategic or Co-development PartnerArchitecture firm collaborating with Codenor on multiple rehabilitation and new construction projects, including 37-home developments in Urduliz and individual residences in Amurrio.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Others

• Bureau Veritas: Global testing, inspection, and certification company operating in Spain. Adjacent to Codenor through energy efficiency and building certification services (e.g., Passive House verification), though Bureau Veritas is a certifier rather than a contractor.
• Rockwool: Global stone wool insulation manufacturer with Spanish operations. Compares to Codenor through supply of insulation materials used in SATE and façade systems, though Rockwool is a materials supplier rather than an installer.
• Mapei: Italian construction chemicals and materials manufacturer with significant Spanish operations. Compares to Codenor through supply of construction materials (mortars, finishes, SATE components), though Mapei is a manufacturer/supplier rather than an installer.
• Knauf Insulation: Major insulation materials manufacturer with significant operations in Spain. Compares to Codenor as a materials supplier for SATE and other insulation systems, though Knauf is a manufacturer, not an installation contractor.
• BMI Group: Major roofing and waterproofing systems manufacturer. Compares to Codenor through roofing/waterproofing scope (Codenor also does roof rehabilitation), though BMI is a manufacturer/supplier while Codenor is an installer.

Broad incumbents

• ACS Group: One of the largest Spanish construction and services groups (parent of Dragados). Has building construction and rehabilitation operations among its diversified portfolio. Compares to Codenor as a Spanish construction services peer, though at vastly greater scale and breadth.
• Sacyr: Spanish construction and infrastructure conglomerate active in building construction, concessions, and energy. Compares to Codenor through shared core activity of construction services in Spain, though Sacyr operates in major infrastructure projects at a much larger scale.
• Ferrovial: One of Spain's largest infrastructure and construction conglomerates, with a building division that performs construction and rehabilitation at scale. Compares to Codenor through shared core activity of construction services, but operates across infrastructure, toll roads, and energy at a much larger scale.
• Acciona: Major Spanish construction and renewable energy company with a building services division. Compares to Codenor through building construction services and energy efficiency focus, though operates globally at vastly larger scale.
• Saint-Gobain Weber: Saint-Gobain's façade and insulation systems brand operating in Spain with weber.therm SATE systems. Compares to Codenor as a competitor in SATE/external insulation systems, though Saint-Gobain is primarily a materials manufacturer and supplier while Codenor is an installation specialist.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/codenor-rehabilitaciones-sl

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Codenor Rehabilitaciones SL