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SMRD-BAT 92 (Financière Canella)

Rehabilitation of social housing in Ile-de-France

Logo SMRD BAT 92.

Investment date : 2023

Vehicle : NiXEN 5 CAN

Operation type : LBO

Spin-off from the Salini Group in 2020, Financière Canella is the leading global player in the renovation of multi-family residential buildings in the Paris region. The Group comprises two operating companies: 

  • SMRD-BAT 92, French market leader in social housing refurbishment

  • Harmonie, a specialist in energy-efficient renovation of condominium exteriors in the Paris region.


The Group has significantly strengthened its positions in the Paris region over the past 3 years. Its long-standing subsidiary, SMRD-BAT92, has consolidated its position as French leader in the social housing renovation segment, winning numerous tenders thanks to the quality of its services and its critical mass. The Group has also initiated a strategy to strengthen its positioning in synergistic, high-visibility hyper-specialist businesses, leading to the acquisition of Harmonie in July 2022, a hyper-specialist in exterior thermal renovation for private condominiums.


NiXEN has decided to participate in this LBO as a co-investor alongside ANDERA Partners, in Goupe Financière Canella to support the management team in the next stages of the company's development.

"Our partner Andera Partners has been a real accelerator of our development. [...] we are very pleased to have strengthened our shareholder base with the arrival of our new partner Five Arrows, an impact fund, while continuing our journey with Andera."


Stéphane Curaudeau and Catherine Prevel, Directors of Financière Canella
(Source: ANDERA Partners, press release dated March 14, 2023)

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