Grant Thornton Advisors to Buy CBIZ for More Than $3 Billion

Grant Thornton Advisors will acquire CBIZ (CBZ) in an all-cash take-private deal valued at more than $3 billion, the companies announced Wednesday. The transaction will vault Grant Thornton to the fifth-largest provider of professional, tax, and advisory services in the U.S.

CBIZ shares surged 17.56% on the news. The acquisition consolidates two mid-tier players in a fragmented professional services market dominated by the Big Four accounting firms. Grant Thornton gains immediate scale in tax advisory and consulting through the combination, while CBIZ shareholders receive a significant premium to recent trading levels.

The deal marks one of the larger take-private transactions in the professional services sector this year and reflects continued appetite for stable, cash-generative businesses despite elevated financing costs. Grant Thornton Advisors operates separately from the global Grant Thornton network but maintains licensing agreements for the brand.

No timeline for deal closure was disclosed. The all-cash structure eliminates merger integration risk for CBIZ equity holders, who will exit at the agreed price pending regulatory approval.