Grant Thornton acquires CBIZ for $5B
Analysis based on 15 articles · First reported Jul 29, 2026 · Last updated Jul 29, 2026
The acquisition strengthens Grant Thornton's position in the U.S. accounting market, creating a stronger competitor to the Big Four. CBIZ shares rose over 17% on the announcement, reflecting positive investor sentiment.
Grant Thornton Advisors agreed to acquire CBIZ in an all-cash deal valued at $5 billion, creating the fifth-largest U.S. provider of professional, tax, and advisory services behind the Big Four. CBIZ shareholders will receive $55 per share, a 17.8% premium. The combined platform will span over 20 countries with more than $7.5 billion in annual revenue and over 34,500 professionals. The transaction is backed by New Mountain Capital, which will invest additional equity. After closing, CBIZ's benefits and insurance services segment will be separated into an independent company backed by New Mountain. The deal is expected to close in Q4 2026, subject to regulatory approvals and CBIZ shareholder vote. CBIZ has a go-shop period until August 27, 2026. Goldman Sachs advised CBIZ, while Deutsche Bank advised Grant Thornton. The acquisition reflects consolidation in the U.S. accounting sector as mid-tier firms seek to compete with the Big Four.
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