Grant Thornton seals $5B CBIZ deal, biggest in a generation
Grant Thornton Advisors will acquire CBIZ (NYSE: CBZ) in an all-cash deal valued at $5 billion, or $55 per share, in what the firms call the accounting sector’s largest transaction of its kind in more than 25 years, backed by New Mountain Capital.
Key Takeaways
- CBIZ shareholders will receive $55.00 per share in cash, about a 54% premium to the stock’s 30-day volume-weighted average price.
- The combination is expected to make Grant Thornton the fifth-largest U.S. professional services, tax and advisory provider, with more than $5 billion in annual domestic revenue.
- New Mountain Capital is investing incremental equity; CBIZ’s Benefits and Insurance Services segment is set to become a separate New Mountain-backed company after closing.
- The deal targets a fourth-quarter 2026 close, subject to CBIZ shareholder approval, regulatory clearances and customary conditions.
- Leaders say the merger expands AI-enabled delivery, building on Grant Thornton Advisors’ announced $1 billion investment in AI and advanced technologies.
What is happening with the CBIZ takeover?
Grant Thornton Advisors LLC, New Mountain Capital and CBIZ announced on July 29, 2026, that Grant Thornton Advisors has entered a definitive agreement to buy CBIZ in an all-cash transaction with a $5 billion enterprise value.
Under the terms, CBIZ shareholders get $55.00 in cash per share. When the deal completes, CBIZ would become wholly owned by Grant Thornton Advisors and its common stock would cease trading on the New York Stock Exchange. The CBIZ board unanimously approved the transaction and recommends that shareholders vote in favor.
Why does this deal matter for professional services and AI?
The firms say the combined multinational platform would span more than 20 countries and territories, generate nearly $7.5 billion in revenue and employ more than 34,500 professionals across the Americas, Europe, the Middle East and Asia-Pacific.
They also frame the takeover as a technology step-up. Grant Thornton Advisors said the CBIZ acquisition expands its ability to bring AI-enabled solutions to more clients and industries after a recently announced $1 billion investment in AI and advanced technologies—coverage that sits alongside other stories in Future Tech & AI Wonders.
Jim Peko, chief executive of Grant Thornton Advisors, said the firms will broaden support for businesses “from early development to global scale.” CBIZ president and CEO Jerry Grisko called it a “historic combination” with complementary cultural and strategic fit.
When could the CBIZ deal close, and what comes next?
Closing is expected in the fourth quarter of 2026, pending CBIZ shareholder approval, required regulatory approvals and other customary conditions. CBIZ may solicit alternative proposals during a go-shop period ending at 11:59 p.m. Eastern Time on August 27, 2026.
After closing, Grant Thornton Advisors plans to separate CBIZ’s Benefits and Insurance Services segment into a stand-alone entity backed by New Mountain Capital. New Mountain, which led a May 2024 investment in Grant Thornton Advisors, is adding equity to support the buyout.
Full terms are laid out in the companies’ GlobeNewswire announcement.