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CBIZ brokerage to be spun off, backed by private equity, after $5B Grant Thornton deal. July 31, 2026 Grant Thornton's US arm has agreed to buy rival CBIZ Inc. in a deal that could reach $5 billion, making it one of the largest professional services acquisitions in recent years. After the deal closes in the fourth quarter this year, CBIZ's insurance and benefit services will be separated into a stand-alone entity backed by New Mountain Capital, a private equity firm, the companies said. Bob Mulcare and Sean Donovan, managing directors at New Mountain Capital, said in a news release: "We look forward to building on the strong foundations within the Benefits and Insurance Services segment to create a new leading firm dedicated to insurance, retirement and payroll services - providing new opportunities to the clients and team members in that segment." The firm did not say if the spinoff insurance services will retain the CBIZ name. CBIZ has a "go shop" period to solicit competing offers until Aug. 27, Reuters reported. CBIZ, headquartered in Cleveland, brokers property/casualty insurance coverage for businesses around the country and does considerable business in condominium coverage in Florida. The publicly traded firm reported $409 million in revenue from its benefits and insurance services in 2025, and $682 million for the second quarter 2026, according to filings with the U.S. Securities and Exchange Commission. That makes it far smaller than some of the largest U.S. brokerages, such as Brown & Brown, which reported Q2 revenue of $1.7 billion. But CBIZ has expanded steadily through more than two dozen acquisitions in the past decade, according to Tracxn and PrivSource, sites that follow mergers and acquisitions. On the accounting side, the merger deal would make Grant Thornton the fifth-largest U.S. provider of professional, tax and advisory services, behind only Deloitte, EY, KPMG and PwC. Grant Thornton Advisors said the all-cash deal for CBIZ offers investors a 54% premium to its undisturbed share price and will create a combined firm with revenue of $7.5 billion and more than 34,000 staff globally. The GT accountancy group has been on an acquisition spree since it sold a major stake to private equity firm New Mountain Capital in 2024. New Mountain will be "investing incremental equity to support the transaction," backing a new standalone unit for CBIZ's benefits and insurance business, the firm said. CBIZ shareholders will receive $55 per share, a 17.8% premium to its previous close. Its shares jumped 17%. "By combining our multinational platform with CBIZ's strong market presence, we're broadening our ability to support businesses through every stage of growth - from early development to global scale," Grant Thornton Advisors CEO Jim Peko said. The combined platform will span over 20 countries and territories with more than $7.5 billion in revenue, Reuters noted. Was this article valuable? Interested in agencies? Get automatic alerts for this topic.

Grant Thornton Advisors to buy CBIZ for $5B, create stand-alone benefits firm. The spinoff firm will focus on retirement, insurance and payroll services, with backing from private equity firm New Mountain Capital. Reported by Grant Thornton Advisors LLC announced Wednesday it will acquire CBIZ Inc. in a $5 billion all-cash transaction, creating the fifth-largest professional services, tax and advisory provider in the U.S. Grant Thornton Advisors, which is separate from the accounting firm Grant Thornton LLP, will spin off CBIZ's benefits and insurance services business as an independent benefits company backed by private equity firm New Mountain Capital LLC. The new firm will be "dedicated to insurance, retirement and payroll services," according to the announcement. Under the terms of the agreement, CBIZ will be wholly owned by Grant Thornton Advisors and no longer listed on the New York Stock Exchange. CBIZ's shareholders will receive $55 in cash per share, representing a premium of approximately 54% to CBIZ's 30-day volume-weighted average share price. CBIZ's board of directors unanimously approved the transaction and recommended that its shareholders vote in favor of it. The transaction is expected to close in the fourth quarter of 2026, subject to approval by CBIZ shareholders and regulators. "This is a historic combination with a complementary cultural and strategic fit," said Jerry Grisko, CBIZ's president and CEO, in a statement. "CBIZ has grown rapidly over many years to become a leading professional services provider. Joining Grant Thornton Advisors accelerates the realization of that vision." Last year, CBIZ appointed Seth Goldblum to lead its advisory services. The company announced last week the launch of its pooled employer plan for middle-market businesses and confirmed it was "actively considering" a 403(b) PEP. New Mountain Capital, which has approximately $60 billion in assets under management, led a 2024 investment in Grant Thornton Advisors that funded the firm's growth strategy. It also launched a private wealth firm, New Mountain Wealth Solutions, in 2025.

CBIZ (CBZ) stock soars 17% on $5 billion Grant Thornton takeover announcement. Key highlights. Table of Contents * CBIZ stock climbed 17.67% following Grant Thornton's $5 billion acquisition announcement. * The all-cash proposal of $55 per share represents a 54% premium over the 30-day average trading price. * The combined entity will become the fifth-largest professional services firm in the United States. * Grant Thornton intends to deploy AI-powered technology across CBIZ's client operations. * A go-shop provision allows CBIZ to entertain competing bids through August 27, 2026. Shares of CBIZ (CBZ) surged 17.67% to reach $54.95 following Grant Thornton Advisors' announcement of an all-cash takeover valued at $5 billion. The proposed transaction prices CBIZ stock at $55 per share, representing a substantial premium over recent market valuations. When finalized, this combination will establish the fifth-largest professional services organization in the United States. Grant Thornton proposes $55-Per-Share all-cash transaction. Grant Thornton Advisors has entered into a definitive agreement to purchase CBIZ for a total enterprise value of $5 billion. The deal structure provides CBIZ stockholders with $55 in cash per common share held. This pricing reflects approximately a 54% premium compared to CBIZ's volume-weighted average stock price over the preceding 30 trading days. New Mountain Capital will contribute supplementary equity capital to support this acquisition, building on its partnership with Grant Thornton that began in May 2024. The private equity investor previously facilitated Grant Thornton's domestic strategy expansion through a significant capital infusion. This fresh investment will finance both the transaction itself and future growth initiatives for the merged organization. CBIZ's board of directors has unanimously endorsed the merger agreement and will recommend stockholders vote in favor of the deal. Both parties anticipate completing the transaction in the fourth quarter of 2026. Final consummation depends on stockholder ratification, regulatory approvals, and satisfaction of customary closing requirements. Merger creates expanded professional services platform. This strategic combination will establish a United States-based professional services powerhouse generating over $5 billion in domestic annual revenue. The merged firm will rank as the nation's fifth-largest provider of accounting, tax, and advisory solutions. Industry observers note this deal represents the sector's most significant consolidation in over two and a half decades. Following completion, the expanded multinational organization will maintain operations across more than 20 countries and territories globally. Total worldwide revenue is projected to approach $7.5 billion, supported by a workforce exceeding 34,500 professionals. Grant Thornton anticipates the enlarged footprint will enhance international service coordination and deepen specialized expertise offerings. Grant Thornton intends to integrate its technology infrastructure throughout CBIZ's existing client portfolio. The firm has committed $1 billion toward artificial intelligence and cutting-edge technology development. Consequently, the unified business projects enhanced service quality, increased workforce efficiency, and superior client experiences. Insurance division planned for separation. Grant Thornton's acquisition plan includes spinning off CBIZ's Benefits and Insurance Services division post-transaction. New Mountain Capital will provide backing for this unit to operate as a standalone enterprise. The separated business will concentrate on insurance products, retirement planning, payroll administration, and complementary services for its customer base. Under the merger terms, CBIZ retains the right to pursue alternative acquisition proposals during a go-shop window concluding August 27, 2026. The company's financial advisors may actively solicit, evaluate, and discuss competing transaction offers throughout this timeframe. CBIZ's board maintains authority to accept a superior bid if one emerges that meets specified criteria. Upon transaction completion, Grant Thornton will assume full ownership of CBIZ. CBIZ common stock will be delisted and cease trading on the New York Stock Exchange. Prior to closing, CBIZ will maintain its current operational framework and public company status. Limited Time Offer Get 3 free stock ebooks. Discover top-performing stocks in AI, Crypto, and Technology with expert analysis. * Top 10 AI Stocks - Leading AI companies * Top 10 Crypto Stocks - Blockchain leaders * Top 10 Tech Stocks - Tech giants