Thompson Coburn Michele Kloeppel partner recently shared her insights on the corporate law landscape in an interview with The American Lawyer. With the uncertainties of the pandemic and ongoing geopolitical tensions, Michele discussed the importance of being adaptable and strategic in navigating the market.
Michele said that the market remains very active, with M&A activity continuing to rise. However, she also cautioned that deal-making is becoming more challenging due to increased regulatory scrutiny and potential geopolitical risks.
“We did pick up a bit in the fourth quarter of 2022, and had some of those deals not close and move to 2023,” she said. “Pricing multiples have come down, so I think 2023 will be a good year. Our sellers and buyers have confidence in the market.”
In the article, she noted that unlike larger firms, Thompson Coburn is not adjusting its headcount, and it plans to keep its hiring practices flat while focusing on the available work. She said they are seeing more private equity add-ons instead of new co-purchases, and some companies are divesting non-core businesses or selling them for retirement. To succeed in this environment, lawyers and firms must be adaptable, strategic and committed.
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