Alex Kaufman

Private equity’s entry into the law firm market was once unthinkable. Yet regulatory changes, rapid advances in legal technology, and a broader boom in professional-services investment have fueled growing speculation that private equity (PE) interest in the nation’s largest and most profitable law firms is inevitable. The reality is more nuanced. To date, PE sponsors have generally targeted practice-specific, high‑volume law firms rather than full-service national practices.

Few events are more stressful or exciting in the life of a successful founder or CEO than steering a company through an M&A exit. While the sale of a company can be filled with exhilaration and financial reward, the process that culminates in an M&A exit typically begins months, if not years, in advance, and can be especially time-consuming for a board or management team that is primarily focused on running a business.

Two decades ago, e-commerce law was all the rage. The dot-com bubble was fully engaged and law magazines touted the rise of e-commerce lawyers. Law firms scrambled to create e-commerce practice groups. Fast forward 20 years. You are hard-pressed to find stand-alone e-commerce practice groups. Rather, the expertise is now tucked under the technology or corporate commercial group.