Grant Thornton Advisors Acquires CBIZ in $5 Billion Deal
Grant Thornton Advisors has agreed to acquire US-based professional services firm CBIZ for $5 billion in cash, marking one of the largest deals in its sector over the past 25 years. The acquisition will combine Grant Thornton's global platform with CBIZ’s strong domestic presence and client relationships across the United States. Shareholders of CBIZ will receive $55 per share under the terms of the deal. The transaction is expected to create one of the largest professional services, tax, and advisory firms in the US by revenue, generating nearly $7.5 billion annually with over 34,500 professionals across multiple regions. The combined entity will also expand its AI-enabled service offerings following a prior $1 billion investment in advanced technologies. Post-acquisition, CBIZ’s Benefits and Insurance Services segment is set to be spun off into an independent company backed by New Mountain Capital.
Tickers: $CBZ
Topics: accounting expansion professional_services