The Price of Acquisitions: Assessing and Managing the Real Cost

The term “acquisition” is used quite often to describe the manner in which law firms bring in experienced lawyers.  Sometimes firms describe the hiring of lateral partners as an acquisition and bringing in groups of lawyers or a whole practice group from another law firm is viewed as an acquisition.  When the consolidation of two […]

Strategic Mergers

I was speaking with the managing partner of an AmLaw 200 firm a couple of weeks ago.  He casually mentioned that, year in and year out, he spends about 25 percent of his time involved in merger discussions.  I thought he was kidding but he assured me he was completely serious and had the non-billable […]

Learning to Dance Backwards: What Successful Acquirers Know

Most law firms want to grow.  Whether to gain depth of capability or achieve the credibility among clients that comes with critical mass, growth in the number of attorneys is a strategic priority for the majority of law firms in the U.S.  Of course, firms have several growth options.  They can grow organically by hiring […]

Staying Out of Sam’s Club: Making Small Acquisitions Work

The recession provides an excellent opportunity for law firms to achieve strategic objectives through a series of small mergers that are effectively acquisitions.  Increasingly, smaller firms with less than 50 lawyers see “being acquired” as the best means of surviving the economic downturn.  For larger firms, picking up lawyers in small groups enhances the likelihood […]