Taft Law Firm Anticipates Substantial Revenue Growth Following Planned Merger
Taft Stettinius & Hollister, a prominent law firm, is gearing up for a significant transformation with its planned merger with Denver-based Sherman & Howard. This strategic move is set to create a powerhouse law firm boasting a team of over 1,000 lawyers, signaling a new chapter of growth and expansion for both entities.
According to a press release issued on September 23, Taft’s ranking in the Am Law 100 is expected to make a substantial leap post-merger. The combined revenues for Taft and Sherman & Howard in 2024 are estimated to reach $810 million, with projections for 2025 soaring to $875 million. This surge could potentially elevate Taft’s ranking by as much as 20 spots, as reported by Law.com.
The surge in revenues for Taft can be attributed to a combination of organic growth and strategic mergers that have propelled the firm’s financial performance to new heights. Since the beginning of 2017, Taft’s revenues have surged by over 400%, showcasing a remarkable trajectory of success and expansion.
Founded in Cincinnati, Taft has a rich history of growth through mergers, having completed six mergers in the past 16 years. Similarly, Sherman & Howard has pursued a growth strategy through mergers, with four mergers under its belt in the last 17 years. Currently housing 125 lawyers, Sherman & Howard’s merger with Taft is poised to create a formidable legal force in the industry.
The merger will see Taft gaining access to Sherman & Howard’s offices in Phoenix and Denver, bolstering its presence in key markets where Taft has been eyeing expansion opportunities for a considerable period. Robert Hicks, chairman and managing partner at Taft, expressed enthusiasm about the merger, highlighting the strategic importance of establishing a strong presence in the Mountain West region through this collaboration with Sherman & Howard.
Looking ahead, Taft is exploring further growth opportunities beyond the Sherman & Howard merger. Hicks mentioned that Florida and the Northeast are potential regions of interest for future tie-ups, emphasizing the importance of finding compatible partners that align with Taft’s strategic vision and values.
Despite its expansive footprint and diverse market presence, Taft maintains a cohesive “One Taft” delivery model that emphasizes collaboration while empowering local market leadership with decision-making autonomy. This approach ensures that the firm operates seamlessly across its various locations while fostering a culture of innovation and excellence.
As the merger between Taft and Sherman & Howard is set to take effect on January 1, the combined firm will span across 10 states and Washington, D.C., solidifying its position as a prominent player in the legal landscape. With a shared commitment to excellence and growth, Taft is poised to achieve remarkable success and drive significant revenue growth in the coming years.
