Mpls. Law Firm Foley & Mansfield Grows Through Acquisition
Minneapolis-based law firm Foley & Mansfield, PLLP, announced Friday that it has acquired Skjold Parrington Business Attorneys-which is also based in Minneapolis.
Financial terms of the deal, which closes Tuesday, were not disclosed.
In addition to its Minneapolis headquarters, Skjold Parrington has an office location in Chicago; the firm employed 12 people prior to the acquisition. It serves small to mid-sized companies, banks, and other financial organizations in the Upper Midwest, focusing primarily on business transactions-including estate and business succession planning, financial industry arbitration, and other securities disputes.
“We have been watching this young firm, and have been impressed with their business model, client acquisition strategies, and aggressive Web-based marketing initiatives,” Kyle Mansfield, managing partner at Foley & Mansfield, said in a statement. “With a focus on technology and the efficient use of resources, the Skjold Parrington team created a profitable and sustainable business model during this difficult economic recovery.”
Six of Skjold Parrington's employees, including the firm's two partners and owners-Benjamin Skjold and Christopher Parrington-will join Foley & Mansfield.
The deal, however, does not include Skjold Parrington's foreclosure defense and insurance dispute practices; the six attorneys who worked in these practices will not join Foley & Mansfield.
One such attorney, Patrick Boyle, told Twin Cities Business on Tuesday that he has started his own Minneapolis-based firm-Law Office of Patrick D. Boyle-and its clients will include those previously served through Skjold Parrington's foreclosure defense and insurance dispute practices.
Foley & Mansfield has nine offices across the country and employs about 130, including 36 attorneys in Minnesota. Founded in 1989, the firm's areas of practice include commercial and product liability litigation, business and employment law, and securities law and litigation.