Over the last five years, law firms have maintained a steady and essential presence in the mergers and acquisitions (M&A) landscape. Despite fluctuations in deal activity driven by economic cycles, interest rate changes, and global events like the COVID-19 pandemic, the role of legal advisors has remained consistent. This analysis examines key trends in law firm involvement from 2019 to mid-October 2024, focusing on deal types, transaction sizes, and leading legal advisors.

The timeline to close a private equity deal has become a critical metric for stakeholders. As market conditions fluctuate, this Time to Close (TTC), or the time between a deal being initially logged in a firm’s pipeline to a completed transaction, has lengthened, impacted by a confluence of economic factors. Through the lens of SPS’ proprietary analysis of PE pipeline data, we explore trends from recent quarters to understand how the closing timeline has evolved and what it means for PE investors and sellers.