Pennsylvania Was A Hotbed For First-Half Law Firm Mergers
By: Aebra Coe
Cohen Seglias was featured in a Law360 Pulse article examining Pennsylvania’s surge in law firm mergers during the first half of the year. The firm’s merger with the five-lawyer Nauman Smith firm in Harrisburg was highlighted as part of a broader trend of midsize firms strategically expanding to strengthen their position amid growing competition in the state’s legal market. This move reflects Cohen Seglias’ commitment to growth and its ability to adapt to a rapidly evolving landscape.
Pennsylvania was the nexus for a good deal of law firm combination activity during the first six months of 2024, with more combination announcements involving firms based in the state than in any other state, according to the Law360 Pulse Merger Tracker.
With its eastern border sandwiched between New York and Washington, D.C., competition in Pennsylvania’s legal arena is hot, and law firms are looking over their shoulders as they think about their futures, which in a number of cases includes a combination, according to industry analysts in Philadelphia and Pittsburgh.
With practice overlaps among Philadelphia, New York and D.C., competition for talent is intense, with many small firms finding themselves struggling to keep up, according to longtime Pennsylvania legal recruiter Lori Carpenter. Many smaller firms can’t pay lawyers as much as large firms as they attempt to attract clients based on lower billing rates, and yet many feel the need to grow in order to better serve those same clients, Carpenter said.
