For Merger-Focused Pa. Firms, Where’s the Next Hot Spot?January 14, 2016 – In The News
Mark Silow was featured in The Legal Intelligencer article, “For Merger-Focused Pa. Firms, Where's the Next Hot Spot?” Full text can be found in the January 14, 2016, issue, but a synopsis is below.
2015 was a record year for law firm mergers, with Pennsylvania making up nearly 11 percent of the mergers announced. As firms look to expand, opportunities in the Midwest and southern portions of the country appear to be areas with opportunity.
Among the mergers in Pennsylvania was Philadelphia-based Fox Rothschild LLP, who recently brought Oppenheimer Wolff & Donnelly on board from Minneapolis. The addition of Oppenheimer strengthens Fox’s footprint in the Midwest and raises the attorney count at the firm to nearly 750.
Fox Rothschild managing Partner Mark Silow said the firm's top priority in 2016 is filling out any of its existing offices to a critical mass of 25 lawyers if they are not yet there. But after that, Silow said, Fox Rothschild would be open to new offices in Boston, the Pacific Northwest and other Midwest cities such as Kansas City, St. Louis or Detroit. And although firm is already in Dallas, it would be interested in Houston or Austin, Silow said.
"We just think there is a lot of business in general in Texas," Silow said, noting energy was by no means the driving force there.
Silow continued by mentioning that Midwest cities still have strong manufacturing and real estate industries that could be worth tapping into.