More Mergers Shifting The Biglaw Landscape
Four new mergers announced.
We’re barely into February and it already looks like 2023 is going to be one for the law firm mergers record book. With the industry worrying about a downturn lurking in the shadows, increasing your revenue numbers via merger seems like a strategy many are on board with.
Now comes word of even more more law firm mergers — four in a 24-hour window — that are sure to mix things up. We have the large international firm of Clyde & Co., with 1800+ attorneys and ranking 71st on the Global 200 list, expanding in the United States. They announced a merger with Boston-based Hermes, Netburn, O’Connor & Spearing, an insurance and civil litigation boutique.
Eileen King Bower, Chair of Clyde & Co.’s North American Board, said of the tie up, “This team of litigators provides us with the opportunity to establish an office in Boston, which is a key insurance market, while further enhancing our defense and insurance coverage nationwide, in line with our strategy.”
Also looking to get bigger through mergers is Clark Hill, a firm currently ranked 110th on the Am Law 200. They’re focusing on Philadelphia expansion, taking on the Conrad O’Brien boutique.
“In combining with top-notch firms like Conrad O’Brien that share our commitment to client service, diversity and professional development, Clark Hill has strategically grown to meet our clients’ evolving needs,” John Hensien, chief executive officer of Clark Hill, said in a statement announcing the combination Wednesday morning.
“Our expansion in recent years enables us to attract and retain outstanding talent and broaden our depth of service offerings internationally,” Hensien added.
Additionally, two Chicago-based firms are merging: Croke Fairchild Duarte & Beres and Prendergast Layden. Drew Beres, one of the founding partners of Croke Fairchild, said the merger is “part of the plan of making sure we were truly full-service. And quite frankly, with the economy not as strong as it was a year ago, litigation becomes even more important.”
Plus, Braverman Greenspun, a New York boutique representing condo and co-op boards, will be merging with Finder Novick Kerrigan.
Remember, it’s only February, so there are bound to be even more mergers announced this year.
Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @Kathryn1@mastodon.social.
