In the last fifteen months, private equity investment in law firms has gone from theoretical to reality. Tom Lenfestey of the Law Practice Exchange is back with the podcast to talk about new legal and regulatory developments, what drives multiples in law firm valuations, the cultural elements dealmakers should consider, and more. This episode is brought to you by Hilco Global. Learn more at hilcoglobal.com. The Middle Market Growth podcast is produced by the Association for Corporate Growth. To hear more interviews with middle-market dealmakers and industry experts, subscribe on Soundcloud, Apple Podcasts, Spotify or wherever you listen to podcasts.