Law Firm Mergers Pick Up Pace, Lag Behind Last Year Amid Covid

Law firm mergers picked up over the summer after cooling during the early months of the pandemic and the outlook is for more deals, but it appears the yearly total will fall far short of a record 2019.

Firms registered 20 combinations from July through September, up from a near-decade low of seven in the second quarter.

“I think you’ll see additional engagement once firms are past their budgeting for next year, and decide if, and how long, they will stay remote,” said Tom Clay, an Altman Weil principal who tracks mergers. “The pandemic put the brakes on but midsize ...