Grant Thornton Advisors Completes All-Cash CBIZ Acquisition at $5 Billion Enterprise Value

The Tip Desk · November 2, 2026 · 2 min read

The combination is described as creating the fifth-largest U.S. professional-services firm, with more than $5 billion in annual domestic revenue.

Grant Thornton Advisors LLC completed its acquisition of CBIZ, Inc. (CBZ) on Nov. 2, 2026, in an all-cash transaction with an enterprise value of $5 billion.

With the closing, CBIZ is now wholly owned by Grant Thornton Advisors, and its common stock has ceased trading on the New York Stock Exchange.

The combination is described as creating the fifth-largest U.S. provider of professional services, tax and advisory offerings, with more than $5 billion in annual domestic revenue. Grant Thornton Advisors said the transaction strengthens its cross-border, technology and industry capabilities.

The multinational platform now spans more than 25 countries and territories, generates more than $7 billion in annual revenue and includes more than 34,500 professionals across the Americas, Europe, the Middle East and the Asia-Pacific region. The combined organization will ultimately go to market under the Grant Thornton brand and operate through an integrated business model.

“Today, we bring together two firms with complementary capabilities and a shared commitment to incredible client service,” said Grant Thornton Advisors’ Peko. “CBIZ’s strong U.S. relationships and industry knowledge, combined with our expertise, multinational reach and investment in technology, give us a powerful formula for serving clients no matter how complex their needs.”

New Mountain Capital, which led an investment in Grant Thornton Advisors in May 2024, provided additional equity to support the acquisition. In connection with the closing, CBIZ’s Benefits & Insurance Services segment has been established as an independent company backed by New Mountain Capital.

CBIZ is a U.S. professional-services firm whose latest reported quarter showed revenue of $702.24 million and net income of $36.77 million. For the nine months ended September 30, 2026, revenue was $2.23 billion and net income was $208.16 million.

A separate attest transaction involving Grant Thornton LLP and CBIZ CPAs is expected to close later this year. Following that closing, CBIZ CPAs will remain a separate licensed public accounting firm during a transition period, after which it is expected that CBIZ CPAs will be integrated with Grant Thornton LLP.