Credit: David/Adobe Stock'Pickier' Law Firms Did Mergers at Same Rate Last Year as 2023
Merger talks right now are more offensive than defensive. "It does reduce the number of completed mergers we see, because firms are pickier, and they should be," said Kristin Stark of Fairfax Associates.
January 02, 2025 at 05:02 PM
5 minute read
What You Need to Know
- Fairfax Associates tallied 50 total law firm mergers in 2024. The group counted 49 the year before.
- About 69% of mergers in both years also involved at least one firm of between five and 20 lawyers.
- With financial success, firms are looking more at strategic mergers, rather than waiting until they're backed into a corner, one consultant said.
Even with heightened law firm merger interest across the board, and specifically transatlantic tie-ups, 2024 looked a lot like 2023 in terms of merger totals, according to a new report.
Still, several combinations involving Am Law 100 firms have already gone into effect. And analysts from Fairfax Associates wrote Thursday that they see “continued interest from firms at all levels of the market in scale and in depth of key practices” and that “[i]nterest in merger as a means to execute on a growth strategy remains high."
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