Polsinelli, hailing from Kansas City, is strategically reshaping its domain within the legal sector by targeting mid-market corporate deals. As one of the fastest-growing US law firms, the firm has adopted an expansion strategy that focuses not on mergers but rather on methodical recruitment within key domestic markets, including South Florida, with an aim to provide comprehensive services in real estate, health care, and life sciences.
CEO Chase Simmons shared insights into this vision, emphasizing Polsinelli’s model of becoming a “daily and weekly law firm”—a presence integral to clients’ routine operations. The firm has ascended significantly in the legal landscape, boasting an over 650% revenue surge across the past 15 years. This ascension sees Polsinelli poised to soon enter the top 50 firms by revenue. It owes its success to a concentrated focus on a select number of industries and renowned clients like Equifax, Inc. and Baptist Memorial Healthcare.
Polsinelli’s approach capitalizes on balance across its transactional, regulatory, advisory, litigation, and intellectual property practices, a method Simmons describes as part of a “Goldilocks period” for the firm. The financial results underscore these strategic initiatives, with last year’s gross revenue exceeding $964 million, mirroring the average growth trends among large law firms. Additionally, profits per equity partner soared by nearly a third.
Expansion efforts in recent years have resulted in new offices in Park City, Utah, and Fort Worth, Texas, alongside expansions in existing locations like Nashville and St. Louis. Upcoming moves also indicate further grow in Dallas and an ambitious goal to double office space in Philadelphia. In South Florida, Polsinelli plans to build on the region’s strengths in health care and real estate, leveraging their existing offices in Miami and Ft. Lauderdale for strategic growth.
Polsinelli’s recruitment strategy favors individual and group hires over mergers. Although mergers are widely used in the industry, they lead to challenges like duplication of offices, an approach Polsinelli prefers to avoid. Notably, the firm enhanced its headcount by a 47-lawyer addition from Holland & Knight last year and expanded its intellectual property team in 2016 by acquiring over 40 attorneys from Novak Druce Connolly Bove & Quigg.
The firm’s stance on partner structure is reflective of industry trends, with a significant nonequity partner tier bolstering profits. This roster has doubled over the past decade, with Polsinelli maintaining a relatively lean equity partner list, hinting at a balanced approach to growth and client satisfaction. Staying away from the traditional “up or out” model, Polsinelli values long-term commitments from nonequity partners in delivering high-quality service without the increased pressure to generate new business, thereby enhancing client value.
Polsinelli’s “Goldilocks” period represents a chapter of balanced growth in the legal industry, as market changes encourage diversified and client-oriented services. As it continues to chart its course in the US legal landscape, the firm remains committed to strategic, non-merger expansions as a means to sustainably augment its regional and service-specific prowess.