Grant Thornton Advisors to Acquire CBIZ for $5 Billion in Cash

Grant Thornton Advisors LLC entered a merger agreement on July 29, 2026, to acquire CBIZ, Inc. (CBZ) in a deal valued at $5 billion.

Deal Structure:

CBIZ shareholders will receive $55 in cash for each share of CBIZ common stock they own, representing a premium of 17.77% from the stock’s last close.

Company Profile:

CBIZ is a professional services company that provides accounting, tax, advisory, benefits, insurance, and technology services to businesses, government agencies, and nonprofits across the U.S. and Canada. The company operates through three main segments: Financial Services, Benefits and Insurance Services, and National Practices.

Grant Thornton Advisors is a U.S.-based professional services firm that provides tax, advisory, and consulting services. It is part of the Grant Thornton International network, which operates through affiliated firms in more than 150 markets, with its multinational platform spanning nearly 20 firms across the Americas, Europe, the Middle East, and Asia-Pacific.

Deal Details and Timeline:

New Mountain Capital will invest additional equity to support the deal.

After the deal closes, Grant Thornton is expected to become the fifth-largest professional services firm in the U.S., generating more than $5 billion in annual revenue from its tax, advisory, and other services.

Grant Thornton Advisors plans to spin off CBIZ’s Benefits and Insurance Services segment into a standalone company backed by New Mountain Capital, after closing.

The acquisition is expected to close in the fourth quarter of 2026.

CBIZ will have until August 27, 2026, to look for and negotiate with other potential buyers under a “go-shop” period.

Goldman Sachs is serving as financial advisor to CBIZ, with Weil, Gotshal & Manges acting as legal counsel.

Grant Thornton Advisors is being advised by Deutsche Bank as lead financial advisor, alongside J.P. Morgan, BMO Capital Markets, BofA Securities, RBC Capital Markets, and UBS Investment Bank. Evercore is serving as financial advisor to New Mountain Capital and Grant Thornton on the CBIZ Benefits & Insurance segment. Legal counsel is being provided by Simpson Thacher & Bartlett, Mayer Brown, and Hunton Andrews Kurth.

Grant Thornton Advisors is paying 11.71 times EBITDA for CBIZ.

Deal Metrics:

For more in-depth details about the merger and acquisition transaction, please refer to the Deal Metrics page at:

Deal Metrics for the acquisition of CBIZ, Inc. (CBZ) by Grant Thornton Advisors LLC

The Deal Metrics page for each merger or acquisition includes:

• A comprehensive chart detailing the spread history of the merger from the announcement to completion or failure.
• Timely updates on every event as the merger progresses, including the expiration of the HSR period, regulatory approvals, shareholder votes, etc.
• Latest news and SEC filings.
• A detailed history of deal updates.
• And much more.

Disclaimer: Please perform your own due diligence before buying or selling any securities mentioned in this article. We do not guarantee the completeness or accuracy of the content or data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article