Taft's Strategic Merger with Sherman & Howard
Taft is excited to announce its expansion into the Mountain West through a merger with Sherman & Howard L.L.C., which is not only Denver's oldest law firm but also its third-largest. Established in 1892, Sherman & Howard brings around 125 attorneys into Taft, pushing the total number of attorneys at Taft over the 1,000 mark. This merger emphasizes Taft's dedication to providing outstanding legal services in various regions.
Enhancing Client Services Together
The leadership teams from both firms saw the potential benefits of this partnership and aimed to improve the quality of services for their clients. With rich histories that span more than 130 years, both Taft and Sherman & Howard have flourished and evolved. Stefan Stein, CEO of Sherman & Howard, mentioned, "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."
Broadening Resources for Clients
Clients will continue to work with the same trusted attorneys and staff they have already come to rely on, while also gaining access to a more extensive range of services on both a regional and national scale. Stein highlighted the significance of this partnership, saying, "This merger allows us to leverage a deeper bench and expanded service offerings that will greatly benefit our clients." The collaboration aims to enhance service quality and resources available to clients.
Expanding Taft’s Geographic Footprint
With all Sherman & Howard offices now part of Taft's network, the firm will broaden its reach across several states, bringing its total to ten states and Washington, D.C. The integration of Sherman & Howard into Taft’s leadership will ensure local decision-making continues, all while promoting the "One Taft" model. This model underscores Taft's commitment to local markets and communities, encouraging innovation and collaboration throughout the firm.
Welcoming New Talent and Expertise
Robert J. Hicks, Chairman and Managing Partner at Taft, expressed excitement about the talented attorneys joining from Sherman & Howard. He stated, "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 Toward Growth and Modernization
This merger marks a significant step in Taft's broader strategy, which has seen the firm expand its presence substantially in recent years. Over the past 16 years, Taft has completed six mergers, enhancing its market reach and service offerings. Notably, the firm is recognized as the fastest-growing law firm in the United States, boasting an impressive revenue growth of over 400% since early 2017. This strategic growth aligns with Taft's goal of providing top-tier legal services across various sectors.
Looking Ahead: Projections and Innovations
Taft anticipates achieving projected revenues of $810 million in 2024 and $875 million in 2025 following the merger. The firm currently ranks 83 on the Am Law 100 list, but it expects to see a notable increase in its ranking as it continues to grow. This trajectory is supported by significant investments in modernization and innovation, highlighting Taft's commitment to diversity, equity, and inclusion—an effort reflected in its prestigious Mansfield Rule Certification 6.0 Plus status.
About Sherman & Howard
Sherman & Howard L.L.C. is a respected law firm with locations across multiple states. They provide a vast array of legal services to private, public, and government clients in various industries, including aerospace, financial services, and nonprofit sectors. Their extensive history in the legal field demonstrates their ability to adapt effectively to client needs.
About Taft
As an innovative law firm, Taft is committed to delivering exceptional services while operating through a decentralized, non-headquarter model. The firm has received national recognition for its legal performance, earning spots in prestigious rankings such as the Am Law 100 and Best Lawyers. Taft continues to set the benchmark for legal excellence, focusing on client satisfaction and active community involvement.
Frequently Asked Questions
What led to the merger between Taft and Sherman & Howard?
Both firms aimed to broaden their services and take advantage of their long histories of success, fostering collaborative growth.
How many attorneys will Taft have after the merger?
After merging with Sherman & Howard, Taft will count over 1,000 attorneys in its network.
When is the merger expected to take effect?
The merger is scheduled to be effective on January 1, 2025.
How will this merger impact existing clients?
Clients will continue to work with their trusted attorneys while also accessing a wider range of services and resources.
What are Taft's projected revenues for the future?
Following the merger, Taft expects to generate combined revenues of $810 million in 2024 and $875 million in 2025.
