Earlier this week, renowned Washington, D.C-based firm Steptoe revealed plans to open an office in Houston, Texas, following its merger with boutique litigation firm Smyser Kaplan & Veselka (SKV). The results of partners’ votes from both firms cemented the decision to move forward with this development. Amassing gross revenue of $434,601,000 in 2022, Steptoe’s revenue places it at number 101 according to the most recent rankings in the Am Law 200.
This merger is not just about opening an office in Texas; Steptoe has also managed to acquire SKV’s entire team of attorneys alongside the lease of the office. Details of the deal were reported by the Texas Lawyer.
In an interview, Steptoe chair Gwen Renigar hailed SKV for having what she called, “the right skills, the right reputation, the right clients, the right people, and … the right culture.” The sentiment was echoed by a founding partner at SKV, Craig Smyster, who said, “We are now Steptoe’s Houston office.”
Interestingly, Smyster divulged that several national and international firms had approached them over the years with interest in ‘cherry-picking’ a few of SKV’s attorneys. However, SKV upheld their close-knit group, leading Steptoe to interview and eventually hire the entire team.
Renigar disclosed that they have been exploring opportunities in Texas for a while, primarily due to their clients’ request for a presence in the state. “We’ve been looking at Texas for some time, mostly because our clients have told us they would like to have a presence in Texas,” she told Am Law.
This Texas expansion by Steptoe, with the entire 24-lawyer trial team of SKV, highlights the allure of the Texan legal market, reflecting the phrase, ‘Everything’s bigger in Texas.’ It brings promising opportunities and an even brighter future for all involved, both in the courtroom and behind the scenes at Steptoe and SKV.
More details about the merger can be found on the Texas Lawyer.