Inside the Deals: What 2025 Law Firm Mergers Actually Change

In my last post, I wrote about the recent wave of law firm mergers and what they mean for associates more broadly.

Here, I want to take that one step further and look at what these mergers actually mean in practice. Not just bigger firms, but which practice areas are growing, where firms are investing, and how that impacts the work associates will see.

While merger headlines often focus on firm size, the real impact is usually in the practice areas that are strengthened or expanded.

Troutman Pepper Locke

The merger between Troutman Pepper and Locke Lord created a firm with strong national capabilities in:

• Energy and infrastructure

• Financial services regulation

• Private equity

• Real estate

• Insurance

For associates, this type of merger can expand the type of work you see very quickly. A corporate associate who was previously focused on middle market deals may now be staffed on energy or infrastructure transactions that previously sat within one legacy firm.

The firm has also provided its own perspective (in the link above) on the merger and how the combined platform enhances these practice areas.

Herbert Smith Freehills Kramer

The combination of Herbert Smith Freehills and Kramer Levin illustrates a different strategy: combining global disputes strength with a strong U.S. transactional platform.

Practice areas strengthened by the merger include:

• International arbitration

• Cross border litigation

• Global energy and infrastructure

• Corporate transactions

• Intellectual property

For associates, this creates more exposure to cross border matters. Litigation associates may work on multinational disputes, while corporate associates may support deals involving multiple jurisdictions.

McDermott Will & Emery and Schulte Roth & Zabel

This merger is focused heavily on private capital markets and related advisory work.

The combined firm strengthens:

• Private equity

• Investment funds

• Structured finance

• Tax and wealth management

For associates in these practices, this often translates into exposure to more complex fund structures, larger private capital transactions, and increased collaboration across tax, regulatory, and transactional teams.

Perkins Coie and Ashurst

The proposed merger between Perkins Coie and Ashurst is a classic example of a transatlantic expansion strategy.

Perkins Coie brings strength in:

• Technology and emerging companies

• Intellectual property

• Data privacy and cybersecurity

Ashurst adds:

• Energy and infrastructure

• Global finance

• International arbitration and disputes

If completed, this type of merger creates a platform that combines strong U.S. technology and innovation work with a global energy and finance practice.

For associates, the impact can be significant:

• Technology associates may gain exposure to international regulatory and cross border work

• Finance and infrastructure associates may see more U.S. deal flow

• Litigation and disputes associates may work on matters spanning multiple jurisdictions

It also signals where firms are investing: at the intersection of technology, energy, and global finance.

TL;DR

Across all of these mergers, a few themes emerge:

• Firms are investing in scale and cross border capability

• Practice areas tied to energy, finance, and technology are expanding

• Associates are likely to see more complex, multi jurisdictional work

• Adaptability is becoming increasingly important

Understanding where firms are investing gives you a clearer sense of where opportunities will exist.

If you are at a firm that recently went through a merger and want to chat, you know where to find me for career advice: mahta@whistlerpartners.com.