CBIZ, Inc. (NYSE: CBZ) has recently completed the acquisition of the non-attest business of Marcum LLP with an expected combined annualized revenue of approximately $2.8 billion, making CBIZ the largest full-service professional services advisor of its kind in the U.S.
The cash-and-stock transaction for the acquisition is valued at approximately $2.3 billion. This acquisition is expected to be accretive in 2025, with an estimated contribution to adjusted earnings per share of approximately 10%.
With the completion of this acquisition, CBIZ now has over 10,000 team members and is in a position to offer an enhanced breadth of services and depth of expertise unmatched in its industries, primarily focusing on providing accounting, tax, advisory, benefits, insurance, and technology services to middle-market businesses.
The acquisition is expected to solidify CBIZ's position as an unmatched full-service professional services advisor to the growing middle market and accelerate its growth strategy, further positioning CBIZ as an acquirer of choice. Additionally, it aims to enable greater investment in technology to support data-driven insights and solutions while driving innovation, increasing efficiency, and enhancing performance.
The press release also highlights the benefits of the acquisition, including attracting and retaining the best talent in the industry, enhancing learning and development aligned with meaningful career paths, expanding growth opportunities, and offering an unmatched client experience through the development of innovative and actionable solutions.
CBIZ, Inc., with more than 10,000 team members across more than 160 locations in 21 major markets coast to coast, aims to deliver forward-thinking insights and actionable solutions to help clients anticipate what’s next and discover new ways to accelerate growth. Following these announcements, the company's shares moved 1.1%, and are now trading at a price of $69.7. For more information, read the company's full 8-K submission here.
