Top Biglaw Firm Announces Merger With Top Midsize Firm
Mergers, mergers, and more mergers! Biglaw firms really have the urge to merge in Q4.
With Q4 nearly upon us, Biglaw firms most definitely have the urge to merge. Within the last month, three major mergers have already been announced — Troutman Pepper and Locke Lord, followed by Ballard Spahr and Lane Powell, then by Womble Bond Dickinson and Lewis Roca. Law firm merger interest is at an “all-time high,” and it’s no surprise that two more firms have signaled that they’ll soon be combining.
Today, Am Law 100 firm Taft Stettinius & Hollister and Mid-Market 50 firm Sherman & Howard announced that they’d combine to create a 1,050-lawyer firm, with a total of more than $810 million in gross revenue based on last year’s numbers. The merger will take effect on January 1, 2025, and the new firm may see itself rise up to 20 spots in the Am Law 100.
Taft has been doing quite well in recent years, growing its revenue by more than 400% since 2017. With growth still in mind, the firm may not be done when it comes to mergers. The American Lawyer has the scoop:
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In an interview, Bob Hicks, the managing partner and chairman of the executive committee of Taft, said that the firm is also in preliminary talks with two or three other firms for a potential combination, although he noted, “I normally talk to 20 or 30 firms before I find one that’s viable.” …
Hicks said that [Taft and Sherman & Howard] have already begun integrating their people and systems, anticipating the combination, and their operations, websites, and internal systems will be ready to launch together on January 1. However, their partner compensation systems may take around one to three years to fully integrate because each separate firm will be deciding partner rates for now, according to Hicks.
Congratulations to Taft and Sherman & Howard on what promises to be a successful alliance.
In the Latest Big Merger, Taft to Combine with Sherman & Howard [American Lawyer]
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on X/Twitter and Threads or connect with her on LinkedIn.
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