Kirkland & Ellis, Osborne Clarke and DAC Beachcroft have taken roles on the first U.K. take-private transaction to have closed during the coronavirus lockdown.

U.K.-headquartered IT solutions company Castleton Technology is being taken over by MRI Software, a company owned by American private equity investors TA Associates, GI Partners and Harvest Partners, in a deal that values Castleton at £82.8 million.

Kirkland is advising MRI on the transaction with a team headed up by London corporate partner David Holdsworth, while DAC Beachcroft corporate finance partner Matthew Darling is leading a team advising Castleton with assistance from the firm's tax head John Dunlop.

Osborne Clarke has taken a role advising the financial adviser to MRI, Raymond James Investment Services. Corporate partner Jonathan King is leading for the firm, with debt finance and restructuring partner Dominic Ross also taking a role.

The ongoing COVID-19 pandemic has caused a significant drop in M&A deal volumes. Last month, data from Mergermarket showed that March had been the worst month for European M&A volumes since August 2010 and was the worst March since the financial crisis.

Transactions that are going on often relate to the virus. Pinsent Masons was recently brought in to advise on a £9.5 million capital raising for events company, Arena Events, as it battles the impact of the coronavirus outbreak.

In Europe, Freshfields Bruckhaus Deringer, Baker McKenzie and Latham & Watkins have taken roles on the proposed sale of Air Liquide's hand sanitizer business to private equity firm EQT.