Private investment firm Hawthorn Capital has acquired Xenia Property Group for an undisclosed sum to accelerate the growth of its UK real estate services platform.
Will Bainbridge, founder of Hawthorn Capital
Xenia specialises in block management, residential and student lettings. The group, which comprises Xenia Estates, Xenia Students and Xenia Lettings, manages a portfolio of more than 4,000 homes.
Founded in 2022 by Will Bainbridge, Hawthorn is headquartered in the City of London with an office in Manchester.
The firm is building a business spanning property management, maintenance and related real estate services through acquisition, investment and operational transformation.
“The UK property services market is large, highly fragmented and undergoing significant change,” said Bainbridge. “Increasing regulation, rising customer expectations and technology requirements are strengthening the case for scale and professionalisation, creating an extremely compelling long-term consolidation opportunity.
“We believe there is significant scope to build businesses of scale by combining strong existing operators with long-term capital and institutional-quality systems and operating capabilities.”
Xenia’s leadership team of Farrah McWilliam and Michael Willans continue to oversee day-to-day operations.
Hawthorn said it will focus on strategy, governance, capital allocation and long-term growth initiatives for Xenia.
“Xenia provides us with an established platform across several areas of the market, with a meaningful geographic presence, an experienced team and a broad customer base.” Bainbridge said.
He added: “Hawthorn is actively evaluating complementary acquisitions across block management, property management and adjacent real estate services throughout the UK.
“We have a particular interest in established businesses with strong customer relationships, capable management teams and owners looking for a long-term home for what they have built.”
Since it was founded in 2022, Hawthorn has invested across UK real estate and real estate services. The firm has also founded and grown Prime Residential, a lettings and property management business operating across London, Manchester, Liverpool, Birmingham and Leeds.
Accountancy firm Blick Rothenberg and law firm gunnercooke advised Hawthorn on the Xenia deal.
