Research by Altman Weil shows that last year was the second highest in merger activity.
What was particularly interesting was the dominance of small firm mergers. Eighty seven per cent of the 82 mergers were between small firms.
Altman Weil predicts that - like the UK legal merger market - the activity will continue to grow.
If you want to find out more about the UK legal merger market, Byfield will be launching our merger research on January 27th. Email email@example.com for details.
'Large deals are not the norm in the current US legal market. Of the 82 law firm combinations reported in 2014, 59% were acquisitions of firms with between 2 and 5 lawyers, a dramatic jump from 2013 when only 36% of acquired firms fell into that size category. An additional 28% of acquisitions were of firms with between 6 and 20 lawyers. Overall 87% of 2014 combinations were acquisitions of law firms with 20 or fewer lawyers.'