Perspective: Why Organic Growth Is Not Enough for Big Law

March 17, 2016 | Published by Bloomberg Law Big Law Business

Growth continues to elude Big Law. As demand for services of external firms remains flat, the competition for clients and revenue only intensifies. One vital sign of competitiveness in the legal services space — albeit one that requires some interpretation — is the pace of mergers in the industry.

Relying on Altman Weil’s running MergerLine tally, the New York Times DealBook recently reported that 2015 saw the most robust year ever for law firm mergers. The report cites 91 mergers, up from the previous high of 88 in the prior year. According to Altman Weil, this level of merger activity reflects a “strategy to acquire new business” in a largely flat demand environment. In other words, inorganic growth.

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