News and Views
Media Coverage

Law Firm M&A Ticks Up, but There's Room for More

Law360 Pulse

The legal industry is on track to log more U.S. law firm combinations this year than last, but firm mergers and acquisitions are a far cry from what the sector saw in the years leading up to the pandemic, data released Monday reveals.

Law firm management has made a massive investment in pandemic-related adjustments to the workplace and personnel, from remote working to health protocols and new hiring, said Bank Rome partner Barry Genkin, an M&A adviser to a number of types of entities including law firms.  

And that has meant less time spent thinking about any major mergers.

"Everyone is still very preoccupied with dealing with COVID-related issues," Genkin said. "What happens when you do one of these large megamergers is [that] it's a significant drain on personnel, time, and energy of leadership, and it becomes a question of bandwidth."

"A lot of law firm management is taking the position that we can't afford the distraction of spending six to nine months on a major acquisition because we would be taking our eye off the ball, which is running the firm and making sure it is doing well and prospering," Genkin added.

To read the full article, please click here.

“Law Firm M&A Ticks Up, but There's Room for More,” by Aebra Coe was published in Law360 Pulse on October 4, 2021.