Am Law 200 firm Clark Hill has this year made a strategic decision to grow through acquisition, rather than focusing on individual hires or small practice groups. The approach has seen the firm acquire five smaller firms, the latest of which is based in Dublin.
This growth strategy is becoming increasingly popular among Am Law 200 firms, many of whom have expanded through acquisitions this year. While this approach may require a more significant investment of time and resources in comparison to hires, it offers the considerable advantage of a larger influx of client matters, as these generally transfer with the acquisition.
Clients that move with their law firms—often referred to as ‘sticky clients’— represent a significant return on investment for acquiring firms. With each acquisition, Clark Hill and similar firms are able to swiftly broaden their client base and enhance revenue, making this growth strategy an increasingly attractive choice for ambitious law firms.
Read more about this development and the growth of law firm acquisitions.