Key facts
- Grant Thornton Advisors is acquiring CBIZ for $5 billion in an all-cash transaction.
- CBIZ shareholders will receive $55 per share, a 54% premium to the 30-day average share price.
- The combined entity is projected to be the fifth-largest U.S. provider of professional, tax, and advisory services.
- The deal is expected to generate nearly $7.5 billion in combined annual revenue and employ over 34,500 professionals globally.
- The transaction is anticipated to close in the fourth quarter of 2026, after which CBIZ will operate as a private company.
Grant Thornton Advisors is set to acquire CBIZ in a $5 billion all-cash transaction, a move that will establish the combined entity as the fifth-largest professional services firm in the U.S. The deal, which is expected to close in the fourth quarter of 2026, represents one of the largest transactions of its kind in the accountancy sector.
Under the terms of the agreement, CBIZ shareholders will receive $55 per share, a 54% premium over the company's 30-day average share price. This acquisition follows a period where CBIZ's share price had declined nearly 40% over the past year, hitting a low of $24.29 in April. Upon completion, CBIZ will cease to be publicly traded and will operate as a private company.
Jim Peko, chief executive of Grant Thornton Advisors, stated that the combination of Grant Thornton's multinational platform with CBIZ's market presence will broaden their ability to support businesses at all growth stages. Jerry Grisko, president and chief executive officer of CBIZ, added that joining Grant Thornton Advisors accelerates their vision, creating a stronger firm with new opportunities for employees and enhanced services for clients.
As part of the deal, CBIZ's Benefits and Insurance Services segment will be separated into a new, stand-alone entity that will also be backed by New Mountain Capital. This transaction occurs amidst a surge in private equity investment within the accountancy sector.