International legal practice Osborne Clarke has again advised Raymond James Financial International in its capacity as financial adviser to MRI Software LLC in connection with its £82 million recommended cash offer for UK AIM quoted Castleton Technology plc to be effected by means of a scheme of arrangement. This is believed to be the first UK takeover announced since the COVID-19 lockdown began.

Castleton provides a platform of complementary software and cloud services focused on the social housing sector and associated markets, with its offerings providing a ‘one stop shop’ housing management solution with essential tools and services that deliver significant improvements in service, performance and insight for its customers.  MRI is a global provider of real estate software applications and hosted solutions and is ultimately controlled by funds managed and advised by TA Associates, GI Partners and Harvest Partners.

The acquisition is expected to complete in the second quarter of 2020.

The Osborne Clarke team was led by corporate finance Partner Jonathan King, assisted by Senior Associate Ed Nisbet and Associate Stuart Miller. Partner Dominic Ross provided finance support.

Osborne Clarke’s Corporate team is considered a go-to practice for many companies in the tech, media and comms sector, working with global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.

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