Grant Thornton Acquires CBIZ for $5 Billion with Backing from New Mountain Capital
In a major move within the accounting industry, Grant Thornton has agreed to acquire midmarket firm CBIZ for $5 billion. The deal is backed by private equity firm New Mountain Capital and signals continued influence of PE in shaping the sector. The acquisition highlights consolidation trends among professional services firms as they seek scale amid evolving market demands. Both companies are expected to merge operations following this significant capital infusion, which could reshape competitive dynamics within accounting and advisory services.
Topics: CBIZ Grant Thornton New Mountain Capital private equity