Grant Thornton to acquire CBIZ in $5bn all-cash deal, 54% premium

Published Jul 29, 12:55 PM UTC

Grant Thornton is set to acquire New York-listed management consulting and audit firm CBIZ in a $5bn all-cash deal, one of the largest transactions in the accountancy sector. The acquisition, backed by private equity firm New Mountain Capital, will see CBIZ shareholders receive $55 per share, a 54% premium over the 30-day average. CBIZ shares had fallen nearly 40% over the past year. The combined entity will become the fifth-largest professional services firm in the US, with over $7.5bn in revenue and a presence in more than 20 countries. As part of the deal, CBIZ's Benefits and Insurance Services segment will be spun off into a separate entity, also backed by New Mountain Capital. The transaction is expected to close in Q4 2026. The article also notes that Grant Thornton's UK arm recently accepted private equity investment from Cinven, reflecting a broader trend of private equity dominance in the accountancy sector.