Law Merger Mania Continues
Womble Bond Dickinson and Lewis Roca have decided to tie the knot, creating what’s set to be a legal powerhouse, creating a firm that will crack the top 70 in the US by revenue.
This strategic combination, set to take effect on January 1, 2025.
The merger brings together two established firms with complementary strengths:
- Combined Revenue: Projected to exceed $742 million
- Total Lawyers: Over 1,300 legal professionals
- Geographic Reach: 37 offices, including 29 across 15 US states and Washington DC, plus 8 in the UK
Leadership and Structure
The new entity will retain the Womble Bond Dickinson brand, with leadership structured as with Merrick Benn, the current chair and CEO-elect of Womble Bond Dickinson (US) to be CEO with Kenneth Van Winkle, the current managing partner of Lewis Roca as Vice chair.
Strategic Rationale
This merger is driven by several key factors:
- Enhanced Client Services: The combined firm will offer expanded capabilities across various practice areas and sectors.
- Geographic Expansion: Significant growth in the Southwest and Mountain West regions, complementing Womble Bond Dickinson’s strong presence in the Mid-Atlantic and Southeast.
- International Reach: Lewis Roca gains access to international markets through Womble Bond Dickinson’s UK presence.
Comparative Firm Metrics
MetricWomble Bond DickinsonLewis Roca2023 Revenue$570.9 million$171.2 millionProfit per Equity Partner$706,000$748,000Revenue per Lawyer$607,000$775,000Total Lawyers1,070221US Offices248International Offices80
Industry Context
This merger occurs amid a trend of consolidation in the legal sector with 29 law firm mergers were completed in the first half of 2024, up from 28 in the same period of 2023.
- Notable recent mergers include Troutman Pepper with Locke Lord, and Allen & Overy with Shearman & Sterling. We also reported on the Ballard Spahr merger with Lane Powell just a day ago. Ulmer & Berne combined with Greensfelder, Hemker & Gale to form UB Greensfelder, a 275-lawyer firm in the Midwest
- The trend indicates a strategic shift towards greater scale and broader geographic coverage among leading law firms.
Implications for the Legal Market
The Womble Bond Dickinson and Lewis Roca merger signifies several important developments in the evolution of law firms in a competitive market – which is bound to lead to further combinations ahead.
- Market Consolidation: Continues the trend of mid-size and large firms combining to compete more effectively while firms are also wanting to expand their geographic reach and global footprint.
- Practice Area Synergies: Strengthens key practice areas including dispute resolution, litigation, insurance, intellectual property, and real estate.
- Client Service Enhancement: Offers clients access to a broader range of expertise and geographic coverage.
- Competitive Positioning: Improves the combined firm’s ability to compete for high-value work in key markets at a time when overheads and costs are rising at a time of intense competition and need to position themselves properly in the global market.
