Law firm consolidation proceeds in third quarter
Law firm consultants Altman Weil report that there were 14 law firm mergers and acquisitions in the United States in the third quarter, comprising four mergers and 10 acquisitions of small firms.
“Law firms continue to make acquisitions, but they are proceeding with a little more caution in 2012,” said Altman Weil principal Tom Clay. “Most of the deals we’re seeing are small, highly targeted moves to boost expertise or enhance geographic footprint. Firm leaders want to be sure they’re matching supply with demand to avoid diluting firm productivity even in the short term.”
The biggest merger in the period was between personal injury firm Jacoby & Meyers and Chicago-based Macey Bankruptcy Law, which created a combined firm of 300 lawyers with 135 offices in 50 states.
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