Join us for a conversation on law firm mergers with Lisa Smith of Fairfax Associates.
Kristin Stark is quoted on international firm presence: “In order for an international presence to be successful for any firm… the international presence has to be driven by a particular practice or the firm’s client base…”
Kristin Stark is quoted on associate moves and firm counteroffers: “Kristin Stark… said most Big Law firms are not naïve to that reality… ‘Firms aren’t doing these counteroffers because…’ “
Kristin Stark is quoted: “Kristin Stark… said some firms have already been looking at hiring more staff attorneys who want to work at a slower pace, with different expectations than a traditional, partner-track associate, for less money…”
Lisa Smith and Fairfax merger data is quoted: “Lisa Smith…said in an interview that she expects the number of completed mergers in 2021 will “certainly” beat the 2020 numbers…”
Fairfax merger data is cited: Fairfax’s April 1 report …anticipated “an uptick in active discussions in the coming months and a return to higher levels of completed mergers by the end of 2021 or early 2022.”
Lisa Smith is quoted: Midsize firms will likely experience relatively flat revenue, but they could see another year of strong profit growth because of continued expense savings for the first two-thirds of 2021, said Lisa Smith of Fairfax Associates, who advises law firms nationally.
Lisa Smith is quoted: “The interest in combinations is extremely high, and we’ve already, just in the last week, gotten inquiries from multiple firms trying to look at their options and trying to figure out strategy and merger options for the year,”
Lisa Smith quoted: Smith said the increased focus on alignment between sector and geography is particularly noticeable with emerging tech hubs, like Seattle, Boston, Texas and Salt Lake City.
Lisa Smith is quoted: Lisa Smith, a principal at Washington, D.C.-based Fairfax Associates, estimated that maybe one out of 10, or one out of every 15 combination discussions actually advances to the merger stage. The top reason so many don’t go further? Conflicts, she said.