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Law Firm Mergers at an All Time High
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merger

In just eight short months, law firm mergers have increased by 79 percent which means that law

firm mergers are at an all time high. It is believed that the downward spiral of the economy may

  
What
Where


be the partial reason as to why the mergers have increased so drastically. The United States is

currently dealing with one of the most devastating recessions of all time. In fact, most people and

companies compare the current recession to The Great Depression which began in 1929.

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While law firms have merged together for years as a strategic move, many law firms are now

merging with other law firms to works as one company instead of several individual companies



as a means of survival during such a rough economy. A merger is typically designed to combine

one or more companies together. When the two companies come together to merge, they must

make a mutual agreement about the merge with one another.

Because the economy has not improved over a period of time, many of the law firms in the

United States have felt that it would be beneficial to merge together with other separate law firms

as one. The principal of Altman Weil, Ward Bower, has said, “During the recession and in the

immediate aftermath of the recession, firms were in what I’m going to call a ‘survival mode,’ not

a strategy mode.” Some law firms use a merge as a means of strategy but because of the

recession, it is likely that most firms are using it as a means of survival. He also said, “Now that

the economy has grown, they’re dusting off their strategies.” Since there has not been much

change to the economy from 2010 to 2011, law firms are still doing what they can to continue to

thrive and be successful.

In Pennsylvania alone, six mergers have taken place from the months of January to September.

Of those six mergers in Pennsylvania, four have taken place in the Philadelphia area. While

many mergers have taken place in Philadelphia, there have not been any mergers in Pittsburgh

thus far. Although Pittsburgh has not had any mergers within the past eight months, a legal

recruiter in the city of Pittsburgh has claimed that many of the firms in the area are branching

out.

Some of the firms in the Pittsburgh area are even moving forward toward a possible merge.

Many law firms will continue to merge their companies with others until the recession begins to

get better which means that law firm mergers will continue to be at an all time high. While there

has been a 79 percent increase in mergers within the past eight months, that percentage is

expected to continue to increase within the next several months and in the following year of

2012. If the economy does not get better soon, more law firms will continue to merge as a way of

surviving.



 

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