US law firms bulk up with more mergers in the new year

Jan 10 (Reuters) – The U.S. legal industry has already seen a flurry of new law firm mergers in 2024, as Kilpatrick Townsend & Stockton on Wednesday became the latest to announce a combination with a smaller firm.

Atlanta-founded Kilpatrick said it will add more than 55 lawyers in Chicago from a firm called HMB Legal Counsel. Kilpatrick entered the Chicago legal market in March 2023, in part through a tie-up with another small firm.

Several U.S. law firm mergers have been announced this week following an uptick of law firm deals in 2023.

Phoenix-founded midsize firm Fennemore Craig said Tuesday that it will expand into Seattle through a combination with 12-lawyer Savitt Bruce & Willey next month. Other new tie-ups include Buffalo-founded Barclay Damon, which has nearly 300 lawyers, absorbing 10-lawyer, Washington, D.C.-based firm Shapiro, Lifschitz & Schram.

Kilpatrick said the deal with HMB, which takes effect March 1, will increase its corporate practice and presence in Chicago. HMB advises on mergers and acquisitions, and its focus on middle market private equity and emerging companies work was a draw for Kilpatrick, said Henry Walker, Kilpatrick’s chair and CEO.

Kilpatrick’s more than 600 lawyers will help the HMB group offer clients a broader range of services in related areas such as data security, privacy and intellectual property, said Jeffrey Hechtman, managing partner of HMB.