According to US management consultant Altman Weil, there were 60 law firm mergers and acquisitions in the US last year. The last quarter of the year saw particular activity, with four major international law firm combinations being announced.

International deals

November saw Texas law firm Fulbright & Jaworski merge with London-based Norton Rose, while Anglo-US player SNR Denton announced two mergers, with European firm Salans and Canada’s Fraser Milner Casgrain.
In December, K&L Gates announced the acquisition of 300-lawyer Australian law firm Middletons, creating a firm of more than 2,000 lawyers
‘There were 19 new law firm combinations announced in the fourth quarter, including the four major cross-border deals,’ said Altman Weil principal Ward Bower. ‘We’ve now seen nine straight quarters of steady deal-making since the legal industry shook off the worst effects of the recession.’

Record year

The survey revealed that along with the four major deals, there were five additional cross-border combinations involving US firms in 2012, for a total of nine -- the largest number recorded since MergerLine began tracking the market in 2007.
According to the data, 78 per cent of the 2012 combinations involved small law firms with fewer than 21 lawyers, while firms with between 21 and 100 lawyers accounted for a further 12 per cent of the action.