Big Law Stays 'Bullish' on Small and Midsize Mergers
There’s no such thing as the summer doldrums this year for law firm mergers, as small and midsize firms continue to attract Big Law suitors.
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For Am Law 200 firms, small and midsize combination partners usually offer one of three things, said Barry Genkin, an M&A lawyer at Blank Rome: a geographic foothold, deep strength in a new practice area or added capabilities in an existing, key practice area. Often the smaller of two merging firms is looking for a way to keep its most successful partners, who may be looking to take their practices to a larger platform, he said.
“They’re certainly not desperate, but they know the clock is ticking, and the longer they wait the harder it’s going to be to find a [merger] partner that’s compatible,” Genkin said. “You don’t want to do something like that when you’re under the gun.”
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"Big Law Stays 'Bullish' on Small and Midsize Mergers," by Lizzy McLellan was published in The American Lawyer on August 22, 2018.