The claim is made in its new report, ‘Analysis of external and corporate investment in law firms: sustainable momentum established’, which focuses on investment-related issues and opportunities in the UK legal market. According to the report, the sector is at a ‘tipping point’, with significant levels of external investment driving consolidation and funding new disruptive entrants.

Mid-market firms to feel the pinch

It also suggests that mid-market firms are under particular pressure, identifying the 106 firms in the top 200 with revenues of less than £22m as a significant group that would be challenged to achieve scale or develop efficiency. ‘Those that cement positions as consolidators will be those that have evolved decisive governance and operational efficiency to capitalise on the opportunities that external investment have generated,’ it says. Source: The Lawyer