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Grant Thornton (US) has acquired CBIZ, Inc. (NYSE: CBZ) in a deal valued at $5.0 billion. The transaction, structured as an all-cash acquisition, brings together two significant players in the U.S. professional services landscape. CBIZ shareholders will receive $65.00 per share in cash, representing a premium of approximately 30% over the company’s recent trading price.
CBIZ is a national provider of accounting, tax, advisory, benefits, insurance, and technology services, with a strong focus on middle-market businesses. The firm employs more than 9,500 team members across 23 major markets and works closely with CBIZ CPAs, an independent CPA firm that delivers attest services to industries including technology, construction, manufacturing, and not-for-profits. Grant Thornton (US), a major accounting and advisory firm, will absorb CBIZ’s operations, expanding its own client base and service capabilities.
The acquisition is driven by a clear strategic rationale: Grant Thornton (US) seeks to deepen its presence in the middle-market segment, where CBIZ has established a robust franchise. CBIZ’s integrated model-combining consulting, tax, and insurance brokerage with attest services through its affiliated CPA firm-complements Grant Thornton’s existing audit and advisory offerings. The combined entity will have a broader geographic footprint and a more diversified revenue stream, reducing reliance on any single service line.
For CBIZ clients, the change in ownership is expected to bring access to a larger suite of global resources, while Grant Thornton (US) gains CBIZ’s specialized industry expertise and long-standing client relationships. The deal also resolves CBIZ’s structural complexity, as its affiliated CPA firm will be integrated into Grant Thornton’s national practice. No major client losses or service disruptions are anticipated during the transition.
The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approvals and CBIZ shareholder consent. Post-close, the combined firm will rank among the largest accounting and advisory organizations in the United States, with a combined workforce exceeding 15,000 professionals. Management has indicated that integration efforts will prioritize client continuity and retention of key CBIZ personnel, though specific leadership appointments have not yet been announced.