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.