Insurance
Home›Insurance›Industry & Deals›Grant Thornton to buy CBIZ in deal up to $5 billion
Grant Thornton to buy CBIZ in deal up to $5 billion
The all-cash transaction values CBIZ at $55 per share, a 17.8% premium, and would create a combined firm with $7.5 billion in revenue.
Grant Thornton’s US arm has agreed to acquire CBIZ Inc. in a deal that could reach $5 billion, after which CBIZ’s benefits and insurance brokerage business will be separated into a stand-alone entity backed by private equity firm New Mountain Capital. The companies said the separation would take place after the transaction closes in the fourth quarter of this year.
CBIZ has a go-shop period to solicit competing offers through Aug. 27, according to Reuters. CBIZ, headquartered in Cleveland, brokers property and casualty insurance coverage for businesses nationwide, including condominium coverage in Florida.
CBIZ reported $409 million in revenue from its benefits and insurance services in 2025 and $682 million for the second quarter of 2026, based on filings with the US Securities and Exchange Commission. The company is far smaller than major brokerages such as Brown and Brown, which reported Q2 revenue of $1.7 billion.
On deal terms, CBIZ shareholders will receive $55 per share, representing a 17.8% premium to the prior close, and the stock rose 17% on the news. Grant Thornton Advisors said the offer implies a 54% premium to CBIZ’s undisturbed share price and would result in a combined firm with $7.5 billion in revenue and more than 34,000 staff globally, spanning over 20 countries and territories.