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Accounting and Financial Planning for Law FirmsFeaturesLaw Firm FinancialsLaw Firm ManagementLaw Firm Mergers

Know When to Hold 'Em And Know When to Fold 'Em: 4 Questions to Ask When Thinking of Merging

By J. Mark Santiago
May 01, 2022

The preliminary results for how law firms performed in 2021 are beginning to trickle out. Despite COVID lockdowns and on-again off-again return to the office efforts, American law firms are reporting record utilization and profits. At least six of the AmLaw 100 firms will report profits-per-equity-partner (PPEP) of $5mm or more, exceeding last year's record number of five firms, and not all firms have reported their final results.

You might think that with everybody working so hard, law firm leadership had little time for anything else. Not true! They also had time to complete a record 45 mergers in calendar 2021 and the rapid pace of mergers continues, with 14 announced in Q1 of 2022.

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