The Fasken law firm saw a banner year in 2020, which has been a silver lining to the challenges the coronavirus pandemic brought in. The good news kept rolling in in 2021, with Fasken US Co-Leader Neil Kravitz saying that they expect this activity to continue into 2022.
Kravitz stated that the volume of merger and acquisition activity in 2020 has continued into 2021, they’re expecting it to continue growing moving forward, even as other types of deals, like initial public offerings, plateau.
Fasken, in particular, saw a lot of activity in 2020 and early 2021, which has resulted in the firm being ranked by MergerMarket as #1 for Canadian M&D based on deal count in 2020, and the like.
Kravitz stated that they’ve been in legal practice for 25 years already, but 2020 was a notable year for them in terms of activity, one of the busiest times in their professional career. They feel like other legal practitioners and firms like MyDefence.ca look towards the future with optimism, with the M&A expected to continue through 2021 and the early months of 2022.
The legal industry saw a lot of deals, even in spite of the COVID-19 pandemic, due to several factors. One of those, Kravitz explains, is due to low-interest rates making cheap money available, which encouraged deals to happen. Alongside this was the potential for rising inflation resulted in higher interest rates, which is why a lot of people who have the capability to make deals are on the lookout for them.
People expected that a lot of businesses would become insolvent due to the pandemic, but that didn’t happen thanks to a mix of government support and financers being more flexible with struggling businesses. Early 2020 saw a slowdown in deal activity, but as people saw that the economy wasn’t doing so badly in spite of the pandemic, confidence came back.
With the uncertainty of the pandemic, legal firms like MyDefence.ca have more than just deals to look forward to, as the uncertainty has led to people looking for expert advice especially with regards to risk assessment and legal matters.