Grant Thornton Advisors to acquire CBIZ in $5 billion all-cash deal

Published Jul 29, 03:37 PM UTC

Grant Thornton Advisors has agreed to acquire CBIZ in an all-cash transaction valued at $5 billion, aiming to create the fifth-largest professional services, tax, and advisory firm in the United States. The combined entity will span over 20 countries, generate nearly $7.5 billion in revenue, and employ more than 34,500 professionals. CBIZ shareholders will receive $55 per share in cash, and upon completion, CBIZ will become wholly owned by Grant Thornton Advisors and delisted from the NYSE. The deal, expected to close in the fourth quarter of 2026, is subject to shareholder and regulatory approvals. New Mountain Capital, which invested in Grant Thornton Advisors in May 2024, will provide additional equity to support the transaction. Post-closing, Grant Thornton Advisors plans to spin off CBIZ's benefits and insurance services segment into a new stand-alone entity backed by New Mountain Capital. Executives from both firms highlighted the complementary strategic fit and enhanced capabilities for clients navigating complex business environments.