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Altman Weil: Law Firm Mergers Continue at Record Pace
According to a report from Altman Weil, 39 law firm mergers were announced in the United States so far in 2014. This matches the pace of 2013, according to The Am Law Daily.
The majority of mergers so far in 2014 involve firms from the East Coast and the Midwest looking to the West for growth.
Some recent mergers include Husch Blackwell and Shook, Hardy & Bacon combining with a handful of smaller firms in Denver, Colorado and the acquisition of Peitzman Weg by Robins Kaplan Miller & Ciresi in Los Angeles.
Another merger, which occurred this week, involved Jackson Kelly. This firm has 179 lawyers and is headquartered in Charleston, West Virginia. It acquired a firm of 20 lawyers in Evansville, Indiana.
Smith, Gambrell & Russell, with 170 lawyers, acquired the Kapoor Law Group, which focuses on immigration.
A principal from Altman Weil, Ward Bower, said the following in a statement: “This pattern of one or two big combinations per quarter along with a large number of small, safe deals has emerged since the recession. It reflects a market that is acting with greater caution when it comes to growth.”
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Tagged: Altman Weil, Altman Weil Mergerline, Charleston, husch blackwell, kapoor law group, law firm mergers, peitzman weg, Robins Kaplan Miller & Ciresi LLP, smith gambrell & russell llp, squire patton boggs