Grant Thornton to acquire CBIZ in $5Bn deal
LONDON, UNITED KINGDOM — Grant Thornton Advisors has agreed to acquire CBIZ in an all-cash transaction valued at $5 billion, or $55 per share, representing a 54% premium to CBIZ’s 30-day average share price.
The deal is expected to create the fifth-largest professional services firm in the United States, with more than $5 billion in annual domestic revenue. The transaction, backed by New Mountain Capital, requires CBIZ shareholder approval and is expected to close in the fourth quarter of 2026.
Grant Thornton strengthens U.S. advisory and tax capabilities
Grant Thornton Advisors operates across more than 20 countries with approximately 34,500 professionals and roughly $7.5 billion in global revenue, while CBIZ adds 9,500 team members and operations across 23 U.S. markets.
According to a press release, the transaction is described as the largest of its kind in professional services in more than 25 years, combining two firms with complementary capabilities across accounting, tax, advisory, and technology services.
“By combining our multinational platform with CBIZ’s strong market presence, we’re broadening our ability to support businesses through every stage of growth — from early development to global scale,” said Jim Peko, Chief Executive Officer (CEO) at Grant Thornton Advisors.
CBIZ shareholders and team members gain new opportunities
CBIZ offers accounting, tax, advisory, benefits, insurance, and technology solutions through its 23-market U.S. network, and the combined firm’s service breadth is expected to attract clients seeking a single provider across multiple professional disciplines.
CBIZ’s Benefits and Insurance Services division will be separated into an independent entity backed by New Mountain Capital, preserving continuity for clients and team members in that practice.
“This is a historic combination with a complementary cultural and strategic fit. Joining Grant Thornton Advisors accelerates the realization of that vision, creating a stronger firm with new and exciting opportunities for our team members and enhanced service offerings for clients, while delivering significant value to CBIZ shareholders,” said Jerry Grisko, President and CEO at CBIZ.
The deal consolidates two of the largest independent professional services firms in the U.S. market, reflecting growing investor appetite for scaled platforms capable of competing with the Big Four accounting networks.
For the business process outsourcing (BPO) sector, the combined firm’s enhanced artificial intelligence (AI) capabilities and multi-disciplinary service model represent the growing convergence of outsourced accounting, tax advisory, and technology-enabled managed services.
As mid-market companies increasingly outsource non-core financial and compliance functions, this deal signals that professional services consolidation in the U.S. is accelerating.
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