Law Firm Mergers Rebound After Pandemic Slowdown
“Law firm mergers may quadruple by the end of the year after cratering in 2020 when offices struggled to cope with the coronavirus pandemic, an Altman Weil report released Tuesday found,” reports John Hughes in Bloomberg Law’s US Law Week.
“Law combinations began a rebound in the first quarter of 2021 with 26 transactions, putting deals on a pace to shatter the total of 65 in all of last year. Acquiring firms on average had 908 lawyers compared with 14 in those being acquired, according to Altman Weil.”
“The Altman Weil findings resemble those of legal consultancy Fairfax Associates, which found firms focusing on smaller combinations. Fairfax Associates recorded 18 completed mergers in the first quarter of 2021, a slight drop from the same time period in 2020, which saw 21 mergers.”
