Grant Thornton to buy rival CBIZ in $5bn deal

29th Jul 2026 07:09

(Sharecast News) - Grant Thornton said on Wednesday that it has agreed to buy rival CBIZ in a $5bn deal that will create the fifth-largest US provider of professional services, tax and advisory services.

Under the terms of the deal - which represents the largest of its kind in more than 25 years - Grant Thornton will pay $55 per share in cash, which is a premium of around 54% to CBIZ's 30-day volume-weighted average share price.

New Mountain Capital, which led a May 2024 investment in Grant Thornton Advisors and fuelled the firm's growth strategy, will be investing incremental equity to support the transaction.

Once the deal closes, Grant Thornton will separate CBIZ's Benefits and Insurance Services segment into a new standalone entity backed by New Mountain Capital.

Jim Peko, chief executive of Grant Thornton Advisors 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."

CBIZ president and CEO Jerry Grisko 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 the realisation 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."