Buchanan Ingersoll In Merger Talks With Fowler White Boggs
In 2005, Buchanan Ingersoll picked up intellectual property boutique Burns Doane Swecker & Mathis of Alexandria, Va., adding about 60 lawyers.
The firm expanded significantly in 2006 through its intrastate merger with Pittsburgh-based Klett Rooney Lieber & Schorling, adding about 250 lawyers, government affairs professionals and staff. That move briefly vaulted the firm into the Am Law 100 before it settled back into the Am Law 200 for the past five years.
Since then, the firm has added a few boutique firms, growing in San Diego in 2007 and adding litigation depth in Pittsburgh more recently.
In 2013, Buchanan Ingersoll was ranked 117th on the Am Law 200 with $265.5 million in gross revenue, $665,000 in profits per equity partner and $650,000 in revenue per lawyer.
Buchanan Ingersoll has had a presence in South Florida since 1990. The firm recently moved its Aventura office to downtown Fort Lauderdale to be closer to its client base.
Joe Altonji, a law firm consultant for Chicago-based LawVision Group, said he would not be surprised if the firms merged. He expects more mergers to be announced in the coming year, particularly involving Florida firms.
"There is a reality in the current marketplace that if your goal is to grow, there isn't a natural growth in the market right now, so merger activity is going to be hot," he said. "The right firms want to get into Florida, and there's always been this interesting connection between Midwestern firms and Florida."
2013 set a record for law firm mergers with the announcement of 87 combinations, according to legal consulting firm Altman Weil.