ILNews

Baker & Daniels in talks to merge with Minneapolis firm

Back to TopCommentsE-mailPrintBookmark and Share

Baker & Daniels LLP, one of Indianapolis' largest and oldest law firms, is in merger discussions with a Minneapolis law firm and hopes to complete a deal in October.

Tom Froehle, managing partner of Baker & Daniels, said he announced to partners on Thursday that the firm is in talks with Faegre & Benson LLP.

With 221 local attorneys, Baker & Daniels is the Indianapolis area's second-largest law firm behind Barnes & Thornburg LLP, which has 228 attorneys. Overall, it boasts 308 lawyers in seven locations, including Chicago; Washington, D.C.; and Beijing.

A merger with the 500-lawyer Faegre & Benson would create the largest law-firm combination involving an Indianapolis firm. More importantly, it gives Baker & Daniels a larger regional presence and greater access to more work.

“As the world gets more complicated and specialized, it really takes more breadth and depth of expertise to serve clients,” Froehle said. “We really think this is an opportunity to capitalize on that concept.”

The combined firm would have 13 offices. Besides Minneapolis, Faegre & Benson has Colorado locations in Boulder and Denver. It also has an office in Des Moines, Iowa, as well as international outposts in London and Shanghai. Where the merged firm will be headquartered has not been determined, Froehle said.

The Baker & Daniels name, which has stood since 1889, likely would change to reflect a combination of the firms, Froehle said. The firm was founded as Hendricks & Hord in 1863.

Baker & Daniels’ leadership had been searching for a partner the past few years before deciding on Faegre & Benson.

“Both have quality practices and there’s no overlapping of geography,” Froehle said. “We want to give this thorough analysis and careful consideration to do what’s best for our clients and people.”

Baker & Daniels saw revenue rise nearly 6 percent in 2010, to $152.5 million, while profit per partner increased 2 percent, to $520,000, according to The American Lawyer trade publication. The firm had 119 partners at the start of 2011, according to Indianapolis Business Journal research. The IBJ is the sister publication of Indiana Lawyer. Faegre & Benson’s revenue, meanwhile, declined nearly 10 percent last year, to $256.5 million, but profit per partner increased 5 percent, to $530,000. The firm has 203 partners.

Baker & Daniels is a full-service law firm with strong corporate, litigation, bankruptcy and real estate practices. Its high-profile local corporate clients include Eli Lilly and Co., WellPoint Inc., Clarian Health and Simon Property Group Inc.

If the merger is completed, it would be one of the largest law firm mergers in the United States this year, trailing only Chicago-based DLA Piper’s (3,448 attorneys) acquisition of affiliate DLA Phillips Fox (600 lawyers) in Australia, according to the Altman Weil Inc. consultancy in suburban Philadelphia.

The trend of mid-size firms growing through mergers or acquisitions has picked up steam in Indianapolis in the past few years.

In 2008, Sommer Barnard PC became part of Cincinnati-based Taft Stettinius Hollister LLP. Later that year, Locke Reynolds LLP hooked up with Frost Brown Todd LLC, also in Cincinnati.

And, last year, Dann Pecar Newman & Kleiman PC became part of Cleveland-based Benesch Friedlander Coplan & Aronoff LLP.

Having a regional presence has benefited the former Sommer Barnard, said Robert Hicks, managing partner of the Indianapolis Taft office.

“For us, our daily life has not changed at all,” he said. “We’re still the same culture. It’s just that we have a much bigger, broader tool box, and we love it.”

Nationwide, the number of law firm mergers and acquisitions increased in the first six months of the year compared with the same period in 2010. Through June, 28 deals had been completed, a 47-percent increase from the first half of last year, according to Altman Weil.



 
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in Indiana Lawyer editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT
Subscribe to Indiana Lawyer
  1. So if I am reading it right, only if and when African American college students agree to receive checks labeling them as "Negroes" do they receive aid from the UNCF or the Quaker's Educational Fund? In other words, to borrow from the Indiana Appellate Court, "the [nonprofit] supposed to be [their] advocate, refers to [students] in a racially offensive manner. While there is no evidence that [the nonprofits] intended harm to [African American students], the harm was nonetheless inflicted. [Black students are] presented to [academia and future employers] in a racially offensive manner. For these reasons, [such] performance [is] deficient and also prejudice[ial]." Maybe even DEPLORABLE???

  2. I'm the poor soul who spent over 10 years in prison with many many other prisoners trying to kill me for being charged with a sex offense THAT I DID NOT COMMIT i was in jail for a battery charge for helping a friend leave a boyfriend who beat her I've been saying for over 28 years that i did not and would never hurt a child like that mine or anybody's child but NOBODY wants to believe that i might not be guilty of this horrible crime or think that when i say that ALL the paperwork concerning my conviction has strangely DISAPPEARED or even when the long beach judge re-sentenced me over 14 months on a already filed plea bargain out of another districts court then had it filed under a fake name so i could not find while trying to fight my conviction on appeal in a nut shell people are ALWAYS quick to believe the worst about some one well I DID NOT HURT ANY CHILD EVER IN MY LIFE AND HAVE SAID THIS FOR ALMOST 30 YEARS please if anybody can me get some kind of justice it would be greatly appreciated respectfully written wrongly accused Brian Valenti

  3. A high ranking Indiana supreme Court operative caught red handed leading a group using the uber offensive N word! She must denounce or be denounced! (Or not since she is an insider ... rules do not apply to them). Evidence here: http://m.indianacompanies.us/friends-educational-fund-for-negroes.364110.company.v2#top_info

  4. A high ranking bureaucrat with Ind sup court is heading up an organization celebrating the formal N word!!! She must resign and denounce! http://m.indianacompanies.us/friends-educational-fund-for-negroes.364110.company.v2#top_info

  5. ND2019, don't try to confuse the Left with facts. Their ideologies trump facts, trump due process, trump court rules, even trump federal statutes. I hold the proof if interested. Facts matter only to those who are not on an agenda-first mission.

ADVERTISEMENT