Smaller Deals Mark Another Big Year for Law Firm Mergers

Law firm mergers and acquisitions are poised for another strong year after record-setting volume in 2019 although blockbusters were hard to find.

Altman Weil MergerLine counted a record 115 tie-ups last year, which was slightly better than the previous one and the highest number since it began keeping track in 2007, the firm said in its annual report on the state of law firm consolidation.

Thomas Clay, Altman Weil principal and author of the report, expects a similar year ahead marked by a growing number of smaller combinations as firms.

“For many firms, it doesn’t make any sense to get ...