Law firm mergers fell 43% last year as partners grappled with financial uncertainties brought on by the coronavirus pandemic, according to an Altman Weil MergerLine report released Tuesday.
Deal activity declined sharply starting in March of last year as the pandemic set in, leading to only 65 combinations in 2020, down from the record 115 the previous year, the report found.
“We don’t expect to return to 2019 levels immediately, but we see a pent-up appetite for growth that should drive deal volume up in 2021,” Tom Clay, a firm principal and merger adviser, said in a statement.
The report ...
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