Am Law 200 firm, Clark Hill, has focused its growth strategy on the acquisition of boutique firms, taking ownership of five in this year alone. This approach eschews the traditional method of hiring independent practitioners or small practice groups. The most recent acquisition was a firm located in Dublin.
Clark Hill’s strategic choice is reflective of an industry trend amongst firms listed in the Am Law 200, who have also been expanding through a similar tactic. Despite the administrative challenges and efforts this method entails, one significant advantage is the substantial increase in client matters that each acquisition brings.
This phenomenon of growth by acquisition yields what can be referred to as ‘Sticky Clients’- a ready client base that often proves hard to dislodge, ensuring a reliable source of business. You can find a deeper analysis of this trend here.