One of Richmond’s biggest law firms has cut a deal to bring another out-of-town firm into its fold.
LeClairRyan absorbed Annapolis, Md.-based Adelman, Sheff & Smith, which specializes in a health-care law practice, the firms announced Tuesday.
The deal, with no money changing hands, adds all 27 of Adelman’s employees to LeClairRyan’s roster and adds physical presences in Maryland and Colorado for LeClairRyan, which is taking over of Adelman’s offices in those markets. LeClairRyan was sixth in BizSense’s 2013 ranking of Richmond area law firms.
“One of our strategic growth areas was clearly in the health-care arena,” said LeClairRyan chief executive David Freinberg. “It’s a growing area of the law.”
The firms began discussions more than a year ago, Freinberg said. Those talks accelerated in the past three or four months.
Among the employees making the move from Adelman are 11 attorneys. They’ll bring LeClairRyan’s health-care practice headcount to 40. The firm now has 344 attorneys, 673 employees and 22 offices in 10 states and Washington, D.C.
Adelman, Sheff & Smith was founded in 1995. It grew by handling M&A, regulatory and litigation work for hospital clients on the East Coast, Freinberg said.
This marks at least the second firm that LeClairRyan has absorbed in the past two years. It took on New York firm Biedermann, Reif, Hoenig & Ruff in July 2011.
It also lured large teams of attorneys from two other firms to grow its ranks in New York.
LeClairRyan’s growth will likely continue. Freinberg said he expects to add more employees and attorneys in the health-care practice.
And there might be other firms across the country that could be targeted for consolidation.
“We’re always talking,” Freinberg said. “I expect that we’ll continue to grow. I can’t be specific at this point, but there are a number of strategic opportunities that we’re pursuing.”
One of Richmond’s biggest law firms has cut a deal to bring another out-of-town firm into its fold.
LeClairRyan absorbed Annapolis, Md.-based Adelman, Sheff & Smith, which specializes in a health-care law practice, the firms announced Tuesday.
The deal, with no money changing hands, adds all 27 of Adelman’s employees to LeClairRyan’s roster and adds physical presences in Maryland and Colorado for LeClairRyan, which is taking over of Adelman’s offices in those markets. LeClairRyan was sixth in BizSense’s 2013 ranking of Richmond area law firms.
“One of our strategic growth areas was clearly in the health-care arena,” said LeClairRyan chief executive David Freinberg. “It’s a growing area of the law.”
The firms began discussions more than a year ago, Freinberg said. Those talks accelerated in the past three or four months.
Among the employees making the move from Adelman are 11 attorneys. They’ll bring LeClairRyan’s health-care practice headcount to 40. The firm now has 344 attorneys, 673 employees and 22 offices in 10 states and Washington, D.C.
Adelman, Sheff & Smith was founded in 1995. It grew by handling M&A, regulatory and litigation work for hospital clients on the East Coast, Freinberg said.
This marks at least the second firm that LeClairRyan has absorbed in the past two years. It took on New York firm Biedermann, Reif, Hoenig & Ruff in July 2011.
It also lured large teams of attorneys from two other firms to grow its ranks in New York.
LeClairRyan’s growth will likely continue. Freinberg said he expects to add more employees and attorneys in the health-care practice.
And there might be other firms across the country that could be targeted for consolidation.
“We’re always talking,” Freinberg said. “I expect that we’ll continue to grow. I can’t be specific at this point, but there are a number of strategic opportunities that we’re pursuing.”