Global private equity sponsor CVC Capital Partners has agreed to acquire a majority stake in UK property rental platform OpenRent, backing the cash-generative technology business through its main buyout strategy.
Founders chief executive Adam Hyslop and chief technology officer Darius Bradbury will retain a significant minority stake in the company and continue to lead operations. Founded in 2012, the direct-to-landlord software platform handles advertising, tenant selection, referencing, contracts and rent collection, commanding a market share of more than one in five UK tenancies.
Financial terms, including valuation multiples and corporate finance advisory teams, were not disclosed. The growth recapitalisation transaction remains subject to customary regulatory approvals and is expected to close later in 2026.
Sponsors continue to target software and marketplace assets that demonstrate high capital efficiency and defensible fee structures amid constrained public exit routes. The investment will fund further platform development, expanding OpenRent’s software services to capture a larger share of recurring rental lifecycle revenues.
Hyslop said: “When we started OpenRent we set out to make renting fairer, safer and cheaper for landlords and tenants across the UK. Fourteen years later, OpenRent has become a trusted part of the market – and we still see enormous opportunity ahead. CVC shares our ambition and brings experience and resources that can help us accelerate the next stage of growth, broaden what we offer customers and create even more value for landlords and tenants.”
Jean-Pierre Saad, managing partner of CVC, added: “We are very excited to partner with Adam and Darius who have built a category-leading platform that has already changed how people rent homes in the UK. OpenRent, with its entrepreneurial and innovation-driven culture, is very well placed to continue to be the UK’s largest and favourite direct-to-landlord platform helping landlords and tenants alike to manage the increased complexity of the rental process.”
