In 2013, there were 88 mergers of law firms in the U.S. and that was the most on record at the time. Nearly two years later, law firm mergers and acquisitions continue at a record pace.
According to Altman Weil, Inc. there were 20 law firm combinations announced in the U.S. in the third quarter of 2015, bringing the total to 68 through the end of September--the highest number for that time period in the last nine years.
The Midwest region is leading the pack with the most merger activity during the third quarter of 2015. There were six law firm combinations in our region during the quarter.
Firms are making deals to acquire smaller firms with 35 lawyers or fewer in an effort to tap into new markets and industries, most notably the intellectual property industry.
More information on recent merger trends in the law firm industry can be found at the Altman Weil MergerLine.
In our experience, there are many considerations to ensure a merger of two law firms can be successful. For more information on this topic, click here.
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