Law firm merger activity increased slightly in 2023 relative to 2022, with increased activity in cross-border and large firm mergers, according to findings from the merger research team at Fairfax Associates.

A flurry of merger activity at the start of the new year kicked off a strong quarter for law firm mergers, according to the merger research team at Fairfax Associates.

Law firm merger activity increased in 2022 relative to 2021, with a number of significant midsize mergers in the US but more limited cross-border activity than observed in previous years, according to the merger research team at Fairfax Associates.

In the third quarter, law firm mergers tracked closely with Q2 results but reflect an increase in merger activity since 2021, with mergers involving small or boutique firms accounting for the bulk of activity, according to the merger research team at Fairfax Associates.