Midsized Firms Strike Lateral Gold In BigLaw Mergers

Law360, New York (February 13, 2015, 6:30 PM EST) -- The current boom of legal industry mergers has allowed midsized firms in the U.S. to acquire elite lateral groups, a trend that experts say will accelerate as law firm merger mania increases.

There were a staggering 168 U.S. law firm mergers in 2013 and 2014, the two busiest years in the industry's history, according to a recent report by legal consultant Altman Weil Inc. That market instability often benefits midsized firms, because the lateral market becomes flooded with partner groups looking for a firm whose culture and practice area strengths align with what they had before.

"Anytime there's instability or change...

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