Hawthorn Capital accelerates growth with acquisition of Xenia Property Group
Private investment firm Hawthorn Capital has acquired Xenia Property Group as it accelerates the expansion of its UK real estate services platform.
Xenia specialises in block management, residential and student lettings. The group comprises Xenia Estates, Xenia Students and Xenia Lettings, managing a portfolio of more than 4,000 units.
It has 65 staff based at its headquarters in Sale, Greater Manchester, and offices in Bradford and Sunderland.
Hawthorn acquired the business for an undisclosed sum.
Founded in 2022 by Will Bainbridge, Hawthorn is headquartered in the City of London with an office in Manchester.
The firm is building a platform spanning property management, maintenance and related real estate services through acquisition, investment and operational transformation.
Will described the acquisition of Xenia as an important step in Hawthorn’s expansion strategy.
He said: “The UK property services market is large, highly fragmented and undergoing significant change.
“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 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.
“A key part of our strategy involves using technology, automation and data to reduce administrative complexity, improve productivity and enable teams to spend more time on higher-value customer work.
“We are already working closely with the Xenia management team to strengthen the group’s systems, infrastructure and operating capabilities while investing behind growth.”
He added: “There is substantial opportunity within Xenia itself, but we also see it as a strong platform for further consolidation.
“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.”
Following the acquisition, Xenia’s leadership team of Farrah McWilliam and Michael Willans continues to oversee day-to-day operations.
Hawthorn is focusing on strategy, governance, capital allocation and long-term growth initiatives for Xenia.
Will Bainbridge and fellow Hawthorn director Chanil Patel have joined Xenia’s board, while Shaun Herman is working closely with the Xenia team on operational development and integration.
Since its founding 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 five UK cities – London, Manchester, Liverpool, Birmingham and Leeds.
Will said: “We are pursuing a long-term, buy-and-build strategy in property services, targeting sectors where we believe capital, technology and operational expertise can support consolidation and growth.”
Accountancy firm Blick Rothenberg and law firm Gunnercooke advised Hawthorn on its acquisition of Xenia.