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Grant Thornton agrees to acquire CBIZ in $5 billion all-cash deal as professional services consolidation deepens

7/29/2026

Against the backdrop of accelerating consolidation in U.S. professional services, CBIZ, Inc.

(NYSE: CBZ) disclosed on July 29 that Grant Thornton, backed by New Mountain Capital, has agreed to acquire the Cleveland-based advisory group in an all-cash transaction with an enterprise value of $5.0 billion, or $55.00 per share.

The announcement arrived alongside second-quarter and first-half 2026 results that showed a split picture: first-half revenue, net income, and free cash flow all grew year over year, while the second quarter alone saw GAAP net income fall 55.6%.

A split quarter and a firmer six months Second-quarter total revenue came in at $682 million, down 0.2% year over year, with Financial Services matching that pace.