While some firms grappled with keeping their transactional lawyers busy amid the slowdown in 2023, Holland & Knight managed to navigate the terrain by focusing on specific geographies and sectors where there were opportunities for return, particularly in the middle market. It seems that this approach was a wise strategy, offering more stability compared to the roller coaster ride of SPACs and venture capitals.
The firm’s decision to leverage on its newly-expanded capabilities through mergers seemed to have contributed significantly to the positive outcome. Mergers with energy-focused Thompson & Knight in 2021, as well as the early 2023 pairing with health care-centric Waller Lansden Dortch & Davis, allowed Holland & Knight to tap into deals across these sectors despite the general slowdown in transactional work.
David Barkus, the co-lead of the firm’s Corporate M&A practice, mentioned the important role played by these fresh mergers in maintaining pace during last year’s downturn. Capitalizing on these new capabilities allowed the firm to remain active in the transactional landscape even in slower periods.
For more details on Holland & Knight’s strategic moves during a slower 2023, you can read more here.