Good to be quoted in this week’s Law Society Gazette on the wave of consolidation and M&A activity — and, more importantly, why it’s happening.
Across what The Lawyer calls “the independents” — firms in the UK Top 100–200 — the appetite for growth is clear: broader client bases, bigger revenues, new practice areas, even international reach.
But we’re at a crossroads. Many firms face a stark choice:
✅ Move decisively — or
❌ Wait and risk being left behind.
Key pressures driving this moment:
- Flattening revenue growth
- Shrinking margins
- Rising client demands for scale and efficiency
- Fierce competition for top talent
- Disruption from PE-backed firms and ALSPs
This is no longer business as usual. Standing still is no longer neutral — it’s strategic risk.
That’s why M&A is rising. For many, it’s the clearest route to stay competitive. But each path comes with trade-offs:
🧩 Merge to scale
⚠️ Upside: market presence; risk: cultural clashes
🧩 Acquire to grow
⚠️ Upside: capability gain; risk: overpay or misfit
🧩 Be acquired
⚠️ Upside: access to capital and leadership; risk: identity dilution
🧩 Form alliances
⚠️ Upside: strategic reach; risk: limited impact
🧩 Stay static, prepare quietly
⚠️ Upside: strength on your own terms; risk: falling behind
As the Gazette puts it:
“There’s a wave of consolidation underway, but not every firm will make it through. The ones that do will move with purpose, discipline, and a clear plan.”
In this crowded house, not everyone gets to stay at the table.
📎 See this week’s Gazette article attached below on page 12.
👉 The real question:
Are we at an inflection point — or stuck in a Mexican stand-off while time and market share slip away?