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Grant Thornton to Buy CBIZ for $5 Billion and Take It Private

The all‑cash $55‑per‑share offer includes a carve‑out of CBIZ’s benefits and insurance arm into a New Mountain‑backed standalone, signaling growing private equity influence on U.S. accounting firms.

Grant Thornton is buying CBIZ in a $5 billion deal to become the fifth-largest US accounting firm.
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Overview

  • Grant Thornton Advisors, backed by private equity firm New Mountain Capital, agreed to buy New York‑listed CBIZ for $5 billion in cash, with CBIZ shareholders to receive $55 per share.
  • The deal will take CBIZ off the public markets and is expected to complete in the fourth quarter of 2026, subject to customary approvals and closing conditions.
  • CBIZ’s Benefits and Insurance Services segment will be separated into a standalone business that New Mountain will back, while the remainder of CBIZ joins the Grant Thornton platform.
  • The combined business will expand Grant Thornton’s scale to more than 20 countries and about $7.5 billion in revenue, positioning it as the fifth‑largest U.S. professional services firm and widening cross‑sell opportunities.
  • The transaction reflects a broader shift toward private equity ownership in accounting, delivers immediate cash value to CBIZ shareholders, and could reshape jobs, client relationships and competition across the mid‑market professional services sector.