Connecticut Not Ripe for Major Firm M&A Activity
Despite being home to many successful firms, Connecticut isn't particularly fertile ground for law firm mergers and acquisitions. The annual number of tie-ups never reaches double digits, according to consultant data, and experts seem to agree this trend will continue for the foreseeable future in the "Land of Steady Habits."
May 19, 2017 at 12:19 AM
6 minute read
Despite being home to many successful firms, Connecticut isn't particularly fertile ground for law firm mergers and acquisitions. The annual number of tie-ups never reaches double digits, according to consultant data, and experts seem to agree this trend will continue for the foreseeable future in the “Land of Steady Habits.”
So far this year, just one acquisition is on the books: West Hartford's Seiger Gfeller Laurie recently acquired Hartford's Krasow, Garlick & Hadley. As reported in the May 2 Connecticut Law Tribune, the deal allowed Seiger to grow from 11 to 14 attorneys, and partners said this would help meet increasing demands in commercial litigation.
For the past decade, according to data tracked by Altman Weil's MergerLine, the annual number of acquisitions involving Connecticut firms has averaged fewer than two, with the most active year (six) coming in 2014.
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