Kirkland Acts on First Take-Private Since Lockdown
Osborne Clarke and DAC Beachcroft also advised on the private equity bolt-on acquisition.
April 16, 2020 at 06:12 AM
2 minute read
A portfolio company made up of U.S. private equity firms is taking over IT solutions company Castleton Technology.
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.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Goodwin's Singapore Private Equity Partner Leaves to Join Key Client Hillhouse Investment
Law Firms Mentioned
Trending Stories
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
