Newtown Square, PA -- (SBWIRE) -- 05/20/2013 -- Grover Arnett law office wishes to pass on the recent Mergerline announcement of the steepest quarterly rise in law firm mergers in the past four years.
The first quarter of 2013 saw law firm acquisitions and mergers totaling 21, the highest single quarterly number since 2009’s first quarter. The report was just released by Altman Weil MergerLine which tracks such statistics.
Due to the increasing growth of U.S. law firms, additional offices, specialty practices, and market expansions are being targeted, especially in new cities.
March saw the largest merger deal between the large Detroit Clark Hill firm housing 231 lawyers with the smaller Pittsburg-based Thorp Reed & Armstrong firm containing 82 active lawyers. Dickinson Wright, another large Detroit firm with 282 lawyers, acquired the smaller 60 lawyer firm of Mariscal Weeks McIntyre & Friedlander of Phoenix.
This is seen as an opportunistic move by the large Detroit law firms to further expand into new markets where even greater growth potential can be realized.
The remaining 19 deals that took place between January 1 and March 31 of this year were made by smaller law firms that house 25 or less active lawyers such as might be found at Grover Arnett attorney law. The 21 mergers and acquisitions that took place were scattered across the United States. The statistics show five occurring in southern region, four occurring in the Mid Atlantic states, four taking place in western states, one in New England, and seven happening between firms located across multi-regions of the country.
Also, seven deals were made towards the end of 2012, but weren’t inked until the first quarter of 2013. The most pronounced deal of that group saw the U.S. firm of K&L Gates acquiring Middletons 300-lawyer firm based in Australia which brought K&L’s lawyer total to above 2,000 heads. This merger increased K&L’s global influence, a key target in their global expansion plan. The deal was made in December and finalized the first of the year.
Anyone interested can obtain the complete listing of the quarterly mergers and acquisitions of law firms announced for the first quarter of 2013 as well as archived listings at www.altmanweil.com/MergerLine.
About Grover Arnett Law Firm
The Law Firm of William Grover Arnett, P.S.C. opened in 1991 to serve clients in and around Salyersville, Kentucky. The business is based on the ideal of providing quality legal services with a core value of building strong client-lawyer relationships.
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Location: Salyersville, KY