Nov 5, 2024

By CBIZ INC. says it is now the largest full-service professional services adviser of its kind in the U.S. after it completed a $2.3 billion acquisition of Marcum LLP. PROVIDENCE – CBIZ Inc., a leading national professional services adviser, has completed the acquisition of Marcum LLP, with an expected combined annualized revenue of approximately $2.8 billion. The transaction makes Cleveland, Ohio-based CBIZ the largest full-service professional services adviser of its kind in the U.S. providing accounting, tax, advisory, benefits, insurance and technology services, primarily to middle-market businesses, the firm said. CBIZ, which has offices in Providence, acquired Marcum’s consulting and tax services business while the attest – or auditing – business of Marcum was acquired by CBIZ CPAs PC, a national independent certified public accountant firm (formerly Mayer Hoffman McCann PC) with which CBIZ Inc. has had an administrative service agreement for more than 25 years. The entire cash-and-stock deal was valued at $2.3 billion. - Advertisement - New York City-based Marcum also had offices in Providence. “We are pleased to have successfully closed the acquisition of Marcum, which represents a major milestone and new chapter for CBIZ, our people and our shareholders,” said Jerry Grisko, CEO and president of CBIZ. “Now, with over 10,000 team members, we will offer our clients an enhanced breadth of services and depth of expertise unmatched in our industries all aimed at helping them grow their business. With even deeper subject matter expertise, industry resources, service lines and insights, we can provide actionable advice and new and innovative data-driven products and solutions. We are excited to welcome the Marcum team to CBIZ and look forward to a bright future together.” TAGS your username LEAVE A REPLY - Featured Event - PBN's All Access Subscription PBN subscribers get ahead with unlimited access to PBN news, information, and insights from our editorial team, research and data, webinars and much more. SIGN UP ABOUT PBN PROVIDENCE – CBIZ Inc., a leading national professional services adviser, has completed the acquisition of Marcum LLP, with an expected combined annualized revenue of approximately $2.8 billion.The transaction makes Cleveland, Ohio-based CBIZ the largest full-service professional services adviser of its kind in the U.S. providing accounting, tax, advisory, benefits, insurance and technology services, primarily to middle-market businesses, the firm said.CBIZ, which has offices in Providence, acquired Marcum's consulting and tax services business while the attest – or auditing – business of Marcum was acquired by CBIZ CPAs PC, a national independent certified public accountant firm (formerly Mayer Hoffman McCann PC) with which CBIZ Inc. has had an administrative service agreement for more than 25 years.The entire cash-and-stock deal was valued at $2.3 billion.New York City-based Marcum also had offices in Providence. "We are pleased to have successfully closed the acquisition of Marcum, which represents a major milestone and new chapter for CBIZ, our people and our shareholders," said Jerry Grisko, CEO and president of CBIZ. "Now, with over 10,000 team members, we will offer our clients an enhanced breadth of services and depth of expertise unmatched in our industries all aimed at helping them grow their business. With even deeper subject matter expertise, industry resources, service lines and insights, we can provide actionable advice and new and innovative data-driven products and solutions. We are excited to welcome the Marcum team to CBIZ and look forward to a bright future together."