Law Firms Really Have The Urge To Merge In 2024
Law firm merger interest is reportedly at an 'all-time high.'
Ed. note: Welcome to our daily feature, Quote of the Day.
We do anticipate that 2024 [law firm] merger activity will be consistent with 2023. The interest in growth via merger continues to remain very, very high. I would even say it’s at an all-time high, in the 20-plus years I’ve been working with law firms.
— Kristin Stark, a law firm consultant and principal at Fairfax Associates, in comments given to the American Lawyer on the “appetite” for law firm mergers in 2024. “Mergers are a very common strategic objective,” she continued, “and as a result, while it’s hard to predict, given the interest level, it’s also hard to see an outcome where it’s at a lower level [than 2023].” Fairfax Associates counted 48 total law firm mergers in 2023, including five “large-firm” mergers (i.e., combinations between firms with 100+ lawyers each).
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.
