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.