Key Takeaways
- • Grant Thornton Advisors is acquiring CBIZ in an all-cash transaction valued at $5 billion enterprise value, with the purchase price of $55 per share representing an 18% premium to CBIZ's closing price of $46.70 on the day prior to announcement.
- • The combined entity will become the fifth-largest professional services firm in the United States, with combined revenue exceeding $7.5 billion, significantly expanding Grant Thornton's U.S. platform and competitive positioning.
- • This transaction represents the largest accounting firm combination in more than 25 years, marking a major consolidation event in the professional services sector and signaling continued M&A activity among mid-market and upper-middle-market accounting and consulting firms.
- • CBIZ, an Independence, Ohio-based firm, will be taken private as part of the all-cash acquisition, with the deal expected to close pending regulatory approval and customary closing conditions.
Summary
Grant Thornton Advisors announced on July 29, 2026, that it has entered into a definitive agreement to acquire CBIZ Inc. in an all-cash transaction valued at approximately $5 billion in enterprise value. Under the terms of the agreement, Grant Thornton will pay $55 per share for CBIZ, representing an 18% premium to the Independence, Ohio-based company's closing stock price of $46.70 on the trading day prior to the announcement.
The acquisition will result in CBIZ being taken private and combined with Grant Thornton's U.S. operations to create a standalone professional services platform. The merged entity is positioned to become the fifth-largest professional services firm in the United States, with combined annual revenues exceeding $7.5 billion. This scale significantly enhances Grant Thornton's competitive footprint and service delivery capabilities across audit, tax, advisory, and consulting services.
The transaction is being executed as an all-cash, all-equity deal and constitutes the largest accounting firm combination in more than 25 years, underscoring the intensity of consolidation dynamics within the professional services industry. The transaction is structured as a cash acquisition with financing support, reflecting the strategic importance Grant Thornton places on this expansion within the U.S. market. The deal is subject to customary closing conditions and regulatory approvals.
This acquisition represents a significant strategic move for Grant Thornton to strengthen its domestic market position and expand its service offerings across a broader client base. The combination aligns with broader industry trends toward consolidation among mid-market and upper-market professional services firms seeking to compete with larger incumbents and achieve greater scale in key service lines.
The acquisition will result in CBIZ being taken private and combined with Grant Thornton's U.S. operations to create a standalone professional services platform. The merged entity is positioned to become the fifth-largest professional services firm in the United States, with combined annual revenues exceeding $7.5 billion. This scale significantly enhances Grant Thornton's competitive footprint and service delivery capabilities across audit, tax, advisory, and consulting services.
The transaction is being executed as an all-cash, all-equity deal and constitutes the largest accounting firm combination in more than 25 years, underscoring the intensity of consolidation dynamics within the professional services industry. The transaction is structured as a cash acquisition with financing support, reflecting the strategic importance Grant Thornton places on this expansion within the U.S. market. The deal is subject to customary closing conditions and regulatory approvals.
This acquisition represents a significant strategic move for Grant Thornton to strengthen its domestic market position and expand its service offerings across a broader client base. The combination aligns with broader industry trends toward consolidation among mid-market and upper-market professional services firms seeking to compete with larger incumbents and achieve greater scale in key service lines.
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