The continued trend of law firm mergers in the US market continues with the announcement that Kansas City-based Spencer Fane is to merge with Salt Lake City-based Snow Christensen & Martineau, creating a firm with over 500 lawyers across 25 offices in the US.
Salt Lake City’s growing tech sector and rapidly increasing population make it an attractive location for U.S. law firms. This merger follows Spencer Fane’s recent entry into the California legal market through a merger with the 15-lawyer firm Pahl & McCay.
Among other notable mergers in the US legal market this year has been the tie-up between Maynard Cooper & Gale with Nexsen Pruet and Holland & Knight with Waller Lansden Dortch & Davis.
And coming up next year is the major merger between Shearman & Sterling’s with Allen & Overy, which will create a super-firm with over $3.5 billion in revenues, and the combination of Midwest law firms Ulmer & Berne and Greensfelder, Hemker & Gale, forming a “super-regional” firm with 275 lawyers.
According to a report by Citigroup’s Citi Global Wealth at Work Law Firm Group and Hildebrandt Consulting, high costs and slow growth are expected to continue driving mergers among small and regional law firms.
