Key Takeaways
- Acquisition expands scale across advisory, tax, and professional services markets.
- AI investments strengthen technology-driven service delivery capabilities globally.
- Combined entity targets higher revenue and broader multinational client coverage.
Grant Thornton Advisors has agreed to acquire CBIZ in a cash deal valued at $5 billion, marking one of the largest transactions in the professional services sector in more than 25 years.
Under the terms of the agreement, CBIZ shareholders will receive $55 in cash for each share of common stock. Following completion, CBIZ will become a wholly owned subsidiary of Grant Thornton Advisors, and its shares will be delisted from the New York Stock Exchange.
Scale expansion and combined market position
The transaction will create the fifth-largest professional services, tax, and advisory provider in the United States based on combined scale. The integration brings together Grant Thornton Advisors’ multinational platform with CBIZ’s established domestic client base.
The combined entity is expected to operate in more than 20 countries and territories, expanding its presence across the Americas, Europe, the Middle East, and the Asia Pacific region. It is projected to generate approximately $7.5 billion in revenue and employ over 34,500 professionals.
Funding for the transaction will include additional equity support from New Mountain Capital, which had previously led an investment in Grant Thornton Advisors in May 2024. The deal structure enables both the expansion of operations and the strengthening of financial capacity.
The integration is expected to enhance service capabilities across advisory, tax, and consulting functions, allowing the combined entity to serve clients across multiple industries and stages of business growth.
Technology investment and structural changes
The acquisition will also support the expansion of technology-driven services. Grant Thornton Advisors has committed $1 billion towards investments in artificial intelligence and advanced technologies. The integration with CBIZ is expected to extend these capabilities across a broader client base and service portfolio.
The companies indicated that the combination will strengthen the delivery of AI-enabled tools and solutions, improving operational efficiency and expanding service offerings. These capabilities are expected to support demand for data-driven advisory services across sectors.
Following the completion of the transaction, Grant Thornton Advisors plans to separate CBIZ’s Benefits and Insurance Services segment into a new independent entity. This entity will be backed by New Mountain Capital, allowing focused operations within that segment.
The transaction reflects ongoing consolidation within the professional services sector, where firms are seeking scale, technology integration, and expanded geographic reach. By combining complementary service lines and client networks, the deal aims to improve operational efficiency and broaden market access.
The agreement highlights a continued focus on growth through strategic acquisitions, supported by investments in technology and expanded service capabilities. The combined platform is expected to leverage its scale and resources to serve a wider range of clients across global markets.
