Grant Thornton Advisors LLC said on July 29, 2026, that it has agreed to buy CBIZ, Inc. in a $5 billion all-cash transaction that would reshape the U.S. professional services market. Under the deal, CBIZ shareholders are set to receive $55.00 in cash for each share.
That price is about 54% above CBIZ’s 30-day volume-weighted average share price, a premium that helps explain why the announcement landed as more than a routine combination. Jerry Grisko called it a historic combination and said CBIZ has grown rapidly over many years, a remark that captures both the scale of the deal and the way the two businesses are being presented to investors.
If the transaction closes, Grant Thornton in the U.S. is expected to become the fifth-largest provider of professional services, tax and advisory services, with more than $5 billion in annual domestic revenue. The combined business is expected to 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 the Asia-Pacific region. Grant Thornton Advisors recently announced a $1 billion investment in AI and advanced technologies, underscoring that the acquisition sits inside a broader push to enlarge the platform rather than stand alone as a one-off purchase.
There is, however, a built-in separation inside the combination. CBIZ Benefits and Insurance Services is to be set up for growth as an independent company backed by New Mountain Capital, while New Mountain Capital is also making incremental equity investment to support the transaction. That leaves the deal looking like two moves at once: a large-scale pairing of advisory businesses and a carve-out designed to keep one part of CBIZ on a separate path.
The announcement does not give a closing date, only a definitive agreement and the outline of what must still happen before the businesses come together. For now, the key question is not the price; it is how quickly the transaction can clear the remaining steps and turn a paper combination into a single operating platform.
