Another Ohio firm moves in

March 3, 2010
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Let’s begin saying our goodbyes to the name Dann Pecar Newman & Kleiman because in about a year, it will be gone from Indianapolis. Dann Pecar is the latest Indiana firm to merge with an out-of-state firm and lose its name.

Indiana lost the monikers of Sommer Barnard and Locke Reynolds in the past two years after being acquired by Ohio firms. Now Dann Pecar will become Benesch/ Dann Pecar and then just Benesch Friedlander Coplan & Aronoff. Benesch is also based in Ohio.

This may be the first one of the year – or at least first one we’ve learned about – but my guess is this may not be the only merger we’ll see in the next year. Dann Pecar’s former managing partner told the Indianapolis Business Journal that the firm had been searching for a merger partner for several years and even had discussions with two firms based in Indianapolis. He didn’t name them or say where two other firms they spoke with were based.

Legal consultants Altman Weil expect to see an uptick in mergers this year because many deals were on hold pending 2009 year-end results. Mergers were down 24 percent in 2009 as compared to 2008. The Midwest saw nine mergers last year, including Barnes & Thornburgh’s acquisition of a Minneapolis firm, and Indianapolis firm Galbraith Associates’ merger with a larger Cleveland-based firm.

Care to guess whether Indiana will see any more mergers this year? Will those mergers happen with a firm not based in Ohio?
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