Key facts
- Hogan Lovells merged with Cadwaledar, Wickersham & Taft on July 1, creating the largest transatlantic law firm merger in history.
- The combined firm has a revenue of $3.6bn and over 3,200 lawyers.
- The firm aims to increase its market share in private capital and transatlantic dealmaking.
- Hogan Lovells has been actively building its private equity practice, including hiring from rival firms.
- The UK is experiencing a surge in US-led takeovers, with several recent examples cited.
Global law firm Hogan Lovells is strategically positioning itself to capitalize on the growing private capital market and a surge in transatlantic dealmaking following its recent merger with Cadwaledar, Wickersham & Taft. The firm views this tie-up, which completed on July 1 and is described as the largest transatlantic law firm merger in history, as a significant opportunity to expand its market share.
The combined entity boasts a revenue of $3.6 billion and a headcount exceeding 3,200 lawyers. Hogan Lovells' corporate and finance division, a key revenue generator, is now focused on leveraging the firm's enhanced capabilities to attract US private equity firms looking to acquire UK companies. Penny Angell, UK managing partner, highlighted the UK as an attractive investment destination for US capital, suggesting potential for even more transactions.
To bolster its private equity offerings, Hogan Lovells deliberately invested in its global platform by recruiting two prominent partners, Michael James and Edward Meadowcroft, from rival firm Paul Hastings in September. Angell emphasized that success hinges on strengthening the New York-London corridor, a sentiment echoed by CEO Miguel Zaldivar, who sees the merger as a pivotal move to leverage the firm's US and UK presence for lucrative financial institution and private capital opportunities.
The firm's strategic focus aligns with a recent trend of US-led takeovers of London-listed companies. Notable examples include Apollo's agreement to take over Easyjet, Firstcash's acquisition of Ramsdens, and Prologis's rejected bid for FTSE 100 firm Segro. Data from LSEG indicates that the value of agreed takeovers of London-listed firms this year has reached $34.8 billion, nearly doubling last year's total for such transactions.