Los Angeles-based law firm O'Melveny & Myers on Tuesday joined the merger trend sweeping the legal profession, announcing its intention to combine its practice with that of New York-based O'Sullivan, a boutique firm specializing in private equity work.
If approved by partners at both firms, the new practice would have more than 800 lawyers, bolstering its position as one of the largest in the country.
O'Melveny saw profit rise 34% last year on 17% growth in revenue.
The combined firm would have 265 attorneys in New York, almost double the number O'Melveny & Myers now has there, and it would add private equity to its practice areas, which now include litigation, bankruptcy, class actions, intellectual property and transactional work.
"We've really identified the private equity practice as a strategic priority for us," said O'Melveny Vice Chairwoman Patricia Frobes.
"There are very few private equity firms of the caliber of O'Sullivan, so it's always been at the top of our list," she said. "It really was not so much looking to merge with another firm, but targeting the private equity area in New York. That led us to O'Sullivan. In the private equity practice, it's important to have a strong profile and footprint in New York, which O'Sullivan gave us."
