Law firm merger activity has been hot, hot, hot in 2023, and one top Am Law firm is doing its damnedest get in on the action.
McGuireWoods — a firm that brought in $953,548,000 gross revenue in 2021, putting it in 54th place in the most recent Am Law 100 — is “looking to grow” and has the urge to merge. According to its chairman, Jonathan Harmon, the firm is “aggressively” seeking a partner. “I believe that the market’s consolidating and that you’re going to have to have scale,” he said in an interview with Bloomberg Law. Here are some addition details about the firm’s growth aspirations:
McGuireWoods … eyes growth in New York, Chicago, Atlanta, Texas and California. …
The firm aims to marry its growth goal in the five states with getting bigger in five practice areas—private equity, health care, energy, high-stakes investigations and litigation, and financial institutions and alternative lenders, according to Harmon.
McGuireWoods has been talking to potential merger partners for almost four years, but thus far, has been unlucky in law firm love. According to Harmon, “Finding the right firm to acquire, merge with, is hard.” But unlike some of its competitors, Harmon is being very open about the firm’s plans. “I’m more frank about it,” he told Bloomberg. “If you’re coy and you’re pretending ‘Hey, I don’t want to date,’ you may not get one.”
Is your firm single and ready to mingle? Revenues at McGuireWoods have risen by 16% over the last five years, and the firm is looking for a partner to share the wealth with. Come on, let this Am Law 100 firm show you a good time.
McGuireWoods ‘Aggressively’ Seeks Merger Partner, Chairman Says [Bloomberg Law]
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 Twitter or connect with her on LinkedIn.