Herbert Smith Freehills to merge with US law firm

Herbert Smith Freehills is planning to merge with its US rival Kramer Levin to create one of the 20 largest law firms in the world.
The combined operation will have more than $2 billion of annual revenue and 2,700 lawyers, including 640 partners across 25 offices. The merger is designed to accelerate growth in the US across sectors including energy, infrastructure, mining and technology.
Herbert Smith Freehills was founded via the merger of the UK firm Herbert Smith and Freehills, an Australian company, in 2012. It has 23 offices around the world and last year its revenue rose by 10 per cent to surpass £1.3 billion, while profit rose 14.5 per cent to £444.5 million from £388.2 million previously.
Kramer Levin, founded in 1968, has its headquarters in New York with offices in Silicon Valley, Washington DC and Paris. In its most recent financial year the firm reported revenues of $435.2 million, according to The American Lawyer, a specialist news website. The combined company willl be called called Herbert Smith Freehills Kramer, and abbreviated to HSF Kramer in the US.
In a statement, the law firms said that their complementary footprints and expanded reach would create an “unrivalled offering” to clients on complex transactions and high-stakes disputes.
Rebecca Maslen-Stannage, chairwoman and senior partner of Herbert Smith Freehills, said: “This is transformational. We have long been committed to expanding our offering in the US and Kramer Levin is the perfect fit. The combination delivers immediate growth for both firms from day one.”
Howard Spilko, co-managing partner of Kramer Levin, said: “Joining forces with Herbert Smith Freehills is a one-of-a-kind opportunity that helps us achieve our vision and potential for strategic growth.”