There is no shortage of reasons why law firms decide to join forces or acquire partners. Lawyers point to increased opportunities for retaining a client base, enhanced capacity for serving larger and more prestigious clients, and a broader geographic reach as benefits of consolidation. Others cite the synergistic effect, meaning to derive benefits not otherwise available, the addition of speciality areas, and the boon of correcting structural imbalances as pluses of combining efforts.
Finding a merger candidate can be a daunting process. However, integrating a merged group of attorneys into a “new” firm’s culture, practice environment and organizational structure so that attorneys from both firms work as one may be a greater challenge. We have assisted many merged firms in completing this critical phase of making a merger/acquisition a successful undertaking.
