Minneapolis-originated Am Law 100 firm, Dorsey & Whitney, saw a positive upturn in their financial fortunes last year, recording a boost in both gross revenue and profitability per equity partner. By amping up rates and maintaining an impressive functionality across various practices and geographies, the firm experienced a 6.7% growth in gross revenue, taking it above $467.4 million. It also observed close to a 5% enhancement in profits per equity partner, placing it at $979,000. Law.com additionally reports an almost 2% increase in headcount for the firm, with revenue per lawyer simultaneously notching up by around 5% to reach $890,000.
While acquisition opportunities aren’t off the table, Dorsey’s managing partner, Bill Stoeri, stated he is probably more inclined towards group laterals and smaller firm acquisitions.