Boom Times for Law Firm Mergers
In there first half of 2015, there have been 48 law firm mergers -- a mid-year record, according to Altman Weil. The driving force behind these mergers seems to be pursuit of "strategic, incremental additions with an eye on profit growth rather than headcount," says Altman Weil principal Eric Seeger.
Some notable moments and findings:
- Dentons deal with Chinese firm Dacheng will make it the world's largest law firm, with more than 6,000 lawyers.
- 79% of second quarter deals with of law firms with 20 or fewer attorneys.
- Merger activity is nationwide, with the second quarter seeing "seven in the Midwest, five in the South, three in the Mid-Atlantic region, three in the western US and one in New England"