Grant Thornton agreed on July 29, 2026 to buy CBIZ in a $5 billion all-cash transaction that would reshape the firm’s U.S. scale. CBIZ shareholders are set to receive $55.00 per share, a 54% premium to the stock’s 30-day volume-weighted average price.
That price point gives CBIZ holders an immediate cash exit if the transaction closes, while Grant Thornton in the U.S. would move into the fifth-largest position in professional services, tax and advisory services. The combined U.S. business is expected to generate more than $5 billion in annual domestic revenue, giving the deal hard numbers that go well beyond a simple ownership change.
Jim Peko on broader reach
Jim Peko, chief executive officer of Grant Thornton Advisors LLC and leader of the Grant Thornton Advisors multinational platform, said, "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. Together, we'll bring the quality, scope and capabilities clients need to navigate an increasingly complex and rapidly evolving business environment."
Nearly $7.5 billion in expected combined revenue and more than 34,500 professionals across the Americas, Europe, the Middle East and the Asia-Pacific region show why the transaction is being framed as a scale move rather than a narrow buyout. The platform would span more than 20 countries and territories, extending the client base and the staffing footprint at the same time.
Jerry Grisko sees a historic fit
Jerry Grisko, president and chief executive officer of CBIZ, said, "This is a historic combination with a complementary cultural and strategic fit. CBIZ has grown rapidly over many years to become a leading professional services provider. Joining Grant Thornton Advisors accelerates"
New Mountain Capital is adding incremental equity investment to support the transaction, building on its May 2024 investment in Grant Thornton Advisors. That structure also leaves CBIZ Benefits and Insurance Services to be set up for growth as an independent company backed by New Mountain Capital, separating one business line from the larger combination while the rest of the deal moves toward closing.
CBIZ shareholders get cash
54% is the premium CBIZ shareholders are being offered over the company’s 30-day volume-weighted average share price, and the payment is in cash rather than stock. For holders of CBIZ, the immediate decision point is not whether to accept a merger share swap, but whether the all-cash price meets their threshold before the transaction closes.
The announcement says the transaction is the largest of its kind in more than 25 years, but the ownership change still depends on closing. Until then, the valuation, the separation of CBIZ Benefits and Insurance Services, and New Mountain Capital’s added equity remain the mechanics that determine how much of the combined firm becomes real for clients and shareholders.
