(Updated 4.1.22) It was a surprisingly quiet quarter for law firm mergers, despite several mergers announced in 2021 becoming effective in Q1 of 2022, according to the merger research team at Fairfax Associates.

Law firm merger activity remained steady in 2021 relative to 2020, but well below historic averages, according to the merger research team at Fairfax Associates.

Law firm merger activity rebounded in the third quarter of 2021, but still lags pre-pandemic numbers, according to the merger research team at Fairfax Associates.

Law firm mergers in the first half of 2021 were consistent with last year’s numbers, but there are signs of an increase in activity in the second half, according to the merger research team at Fairfax Associates.

It was a quieter first quarter for law firm mergers versus last year’s pre-pandemic numbers, and the focus continues to be on smaller combinations, according to the merger research team at Fairfax Associates.

Law firm merger activity was significantly down in 2020, which saw the fewest mergers since 2010, according to the merger research team at Fairfax Associates. In 2020, Fairfax Associates tracked 41 completed mergers (meaning the effective date of the merger occurred during 2020), with nine occurring in the fourth quarter.

Law firm merger activity continues to slow amid the backdrop of the Covid-19 pandemic. The number of law firm mergers in the first three quarters of 2020 is down from the same period in 2019, according to the merger research team at Fairfax Associates.