Archer & Greiner, a growing regional firm, has added its first full-time office in New York by acquiring a seven-person bankruptcy boutique, DiConza Traurig Kadish.
Archer & Greiner, an 180-lawyer firm with headquarters in Haddonfield, New Jersey, and four other offices in the state, entered the Am Law 200 rankings last year with $91 million in 2016 revenues. It now has eight offices, including outposts in Philadelphia and Wilmington.
The firm’s president, Christopher Gibson, said the New York acquisition in the short term adds about $2 million in revenue. “I have every expectation and hope” that the combination will generate more, he said, because the New York lawyers can now cross-sell with Archer & Greiner’s tax, corporate and commercial litigation attorneys.
The lawyers from DiConza Traurig Kadish, who focus on bankruptcy, restructuring and insolvency litigation, joined Archer & Greiner on Feb. 1. Gerard DiConza, a founding member of the boutique, will be managing partner of Archer & Greiner’s New York office in Midtown. He will be joined by partners Jeffrey Traurig and Allen Kadish, of counsel Richard Milin, associates Lance Schildkraut and Harrison Breakstone and law clerk Bryant Churbuck.
Gibson said the group’s billing rates, in the $400 to $600 range for partners, won’t change with the merger. “Their rates are consistent with the rates we charge overall as a firm,” he said.
The partners, some of whom spent part of their careers at big firms, often get referral work from larger firms, Gibson said. According to its website profiles, DiConza was debtor’s counsel in the Chapter 11 cases of SK Global America, OnSite Access, Joan & David, Ames Department Stores and Allegiance Telecom, while Traurig has represented clients in matters involving Eastman Kodak, Borders Group, Chrysler, Refco, among others.
The additions round out Archer & Greiner’s bankruptcy practice in Wilmington, which has seen increased demand, Gibson said. “If you’re going to have a more vibrant practice,” he said, “you certainly need to have a strong presence in Delaware and you certainly need to have a strong presence in New York.” With the new hires, Archer’s bankruptcy practice has about doubled in size, he said.
This is Archer & Greiner’s fifth merger since 2009, Gibson said. “This is part of our commitment to expand regionally and to continue to have a well-diversified practice,” he said, adding that the firm has been looking for about 10 years for a full-time presence in New York.