Herbert Smith Freehills has announced plans to merge with US company Kramer Levin in a move that will make it one of top 20 law firms in the world.
The two firms said that Herbert Smith Freehills’ strength and scale in the UK, Asia-Pacific and EMEA, plus Kramer Levin’s reputation in the US, will establish an outstanding offering for clients.
The combined business – Herbert Smith Freehills Kramer – will have more than 2,700 lawyers, including approximately 640 partners. It will operate from 25 global offices with total revenues of more than $2bn (£1.6bn).
Rebecca Maslen-Stannage, chair and senior partner of Herbert Smith Freehills, said: “This is transformational. We have long been committed to expanding our offering in the US and Kramer Levin is the perfect fit. The combination delivers immediate growth for both firms from day one.”
Justin D’Agostino, global chief executive of Herbert Smith Freehills, said: “This is an excellent long-term, strategic move for our firms, our clients and our people – a bold opportunity to build an exciting international firm together, based on our strong cultures of collaboration, superb clients and people, and our existing areas of strength.”
Howard T Spilko, co-managing partner of Kramer Levin, said: “Joining forces with Herbert Smith Freehills is a one-of-a-kind opportunity that helps us achieve our vision and potential for strategic growth. The combination provides us with a significant competitive advantage by bolstering our destination practices with a deeper bench, broader geographic reach and sector expertise, while providing the opportunity to collaborate to achieve great outcomes for clients internationally.”
The synergies of the combined firm, which will be known as HSF Kramer in the US, will accelerate growth in the US across important sectors in which Herbert Smith Freehills has practices such as energy, financial services, infrastructure, mining, and technology.
The proposed merger is subject to customary closing conditions, including a vote by the partners of each firm.
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