Law firms opt for M&As over listing in plans to grow in 2022
Almost half (47 per cent) of UK law firms are considering mergers and acquisitions, as they seek to expand their geographical footprints and scale up their businesses, according to a poll commissioned by M&A broker Acquira.
In a poll of 100 law firms, 47 said they are currently planning a merger or acquisition, with small- and mid-sized firms most likely to be planning M&A activity.
Of those firms planning a merger or acquisition, 22 per cent hoped to expand their footprint in the UK, while a further 9 per cent hoped to expand internationally.
Another 20 per cent of law firms hoping to carry out M&A activity hoped to scale up their businesses by expanding into new areas.
By contrast, only 18 per cent of large firms, 9 per cent of mid-sized firms, and4 per cent of small firms planned to float on the stock market.
In September, partners at Silver Circle law firm Mischcon de Reya – the firm that represented princess Diana in her divorce from Prince Charles – voted to float the company, with a view to raising as much as £750m.