CBIZ Inc. to Acquire Marcum LLP
July 31, 2024
PRNewswire
CLEVELAND, July 31, 2024 /PRNewswire/ -- CBIZ Inc. (NYSE: CBZ), a leading national provider of financial, insurance, advisory, and technology services, today announced that it has signed a definitive agreement to acquire Marcum LLP, one of the largest independent public accounting and advisory services firms in the United States.
The acquisition, which is expected to close in the fourth quarter of 2024, will create the seventh-largest accounting firm in the United States with combined annual revenue of approximately $3.3 billion. CBIZ will pay approximately $1.1 billion in cash and stock for Marcum.
"This acquisition is a major step forward in our strategy to build a leading national accounting and advisory platform," said Jerry Grisko, President and CEO of CBIZ. "Marcum is a highly respected firm with a strong reputation for quality service. We believe that the combination of our two firms will create a powerful new player in the accounting market."
"We are very excited to join forces with CBIZ," said Jeffrey Weiner, CEO of Marcum. "CBIZ is a highly successful company with a strong commitment to its clients and employees. We believe that our combined resources and expertise will allow us to provide even greater value to our clients."
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