Taft Expands Presence with Strategic Merger in the West
Taft's Strategic Merger with Sherman & Howard
Taft is proudly expanding into the Mountain West by merging with Sherman & Howard L.L.C., Denver's oldest and third-largest law firm. Founded in 1892, Sherman & Howard brings approximately 125 attorneys to Taft, increasing Taft's total attorney count to over 1,000. With this merger, Taft continues to fulfill its commitment to delivering exceptional legal services across various regions.
Strengthening Client Services Through Collaboration
The leadership of both firms recognized the synergies that exist between them as they sought to enhance their offerings for clients. Both Taft and Sherman & Howard boast a rich history of over 130 years of success and growth. Sherman & Howard CEO Stefan Stein stated, "From the inception of the firm in 1892, we have shaped the businesses and cities where we operate. Our discussions with Taft highlighted their collaborative and value-driven approach, which resonated with our own goals as a law firm. The alignment of our cultures made this an easy decision."
Enhancing Resources for Clients
With this merger, clients will continue to work with the same trusted attorneys and staff they are accustomed to while gaining access to a wider array of services both regionally and nationally. Stein emphasized the importance of this new partnership, saying, "This merger allows us to leverage a deeper bench and expanded service offerings that will greatly benefit our clients." The forthcoming collaboration aims to enhance the service quality and resources available for clients.
Expanding the Firm’s Geographic Reach
With all Sherman & Howard offices joining Taft's network, Taft will extend its presence across numerous states, now encompassing ten states and Washington, D.C. The integration of Sherman & Howard into Taft's leadership structure will maintain local decision-making while promoting the "One Taft" model. This structure emphasizes commitment to local markets and communities, fostering collaboration and innovation throughout the firm.
Welcoming New Talent and Expertise
Robert J. Hicks, Taft's Chairman and Managing Partner, expressed enthusiasm about welcoming the talented attorneys from Sherman & Howard. He remarked, "We look forward to onboarding this esteemed group, known for their outstanding reputation. With our shared values of exceptional service and community commitment, we anticipate tremendous opportunities for growth and collaboration."
A Historic Move for Growth and Modernization
Taft’s expansion through this merger is part of a broader strategy that has seen the firm grow its footprint significantly in recent years. Over the last 16 years, Taft has completed six mergers, enhancing its market presence and service capabilities. The firm has been recognized as the fastest-growing law firm in the United States, achieving a remarkable revenue growth of over 400% since early 2017. This strategic growth aligns with Taft's aim to provide top-tier legal services across various sectors.
Future Projections and Innovations
Following the merger, Taft expects to achieve projected revenues of $810 million in 2024 and $875 million in 2025. While currently ranked 83 on the Am Law 100 list, the firm anticipates a significant rise in its ranking as it continues to thrive and expand. This upward trajectory is bolstered by extensive investments in modernization and innovation, reinforcing Taft's commitment to diversity, equity, and inclusion, exemplified by its prestigious Mansfield Rule Certification 6.0 Plus status.
About Sherman & Howard
Sherman & Howard L.L.C. is a diverse law firm with locations in several states. Offering a vast range of legal services, the firm caters to private, public, and government clients across various industries, including aerospace, financial services, and nonprofit sectors. Their rich history in the legal landscape showcases their ability to adapt and respond to client needs effectively.
About Taft
As a forward-thinking law firm, Taft is dedicated to delivering exceptional service while maintaining a decentralized, non-headquarter operating model. The firm receives national recognition for its legal performance and is included in the prestigious lists of the Am Law 100 and Best Lawyers, among others. Taft continues to set the standard for legal excellence, focusing on client satisfaction and community engagement.
Frequently Asked Questions
What prompted the merger between Taft and Sherman & Howard?
Both firms aimed to expand their services and capitalize on their long histories of success, fostering growth through collaboration.
How many attorneys will Taft have after the merger?
With the addition of Sherman & Howard's attorneys, Taft will have over 1,000 attorneys in its network.
What is the expected timeline for the merger?
The merger is set to be effective on January 1, 2025.
How does this merger affect existing clients?
Clients will continue to work with their trusted attorneys while gaining access to a broader range of services and resources.
What are Taft's future revenue projections?
Taft expects to reach combined revenues of $810 million in 2024 and $875 million in 2025 following the merger.
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