Grant Thornton Advisors closes $5 billion CBIZ acquisition in US market
Grant Thornton Advisors, a global investor-backed platform comprising several Grant Thornton member firms including the UAE business, has acquired US-based CBIZ in a transaction valued at $5 billion. The deal ranks among the largest professional services transactions of the past decade.
The acquisition will see CBIZ join the US arm of Grant Thornton, allowing the firm to leapfrog several competitors (including BDO) and become the fifth-largest provider of professional services, tax and advisory services in the US market. Only the Big Four will be larger than the combined firm.
Under the terms of the agreement, CBIZ will become a wholly owned subsidiary of Grant Thornton Advisors. CBIZ’s common stock will cease trading and will be delisted from the New York Stock Exchange.
Grant Thornton Advisors is an international platform that brings together Grant Thornton member firms worldwide. The platform, which is backed by private equity company New Mountain Capital, launched in January 2025 and grows with CBIZ on board to nearly $7.5 billion in revenue and more than 34,500 professionals across the Americas, Europe, the Middle East and the Asia-Pacific region.
In April last year, the UAE member firm – which employs around 800 people across offices in Dubai, Abu Dhabi and Sharjah – also joined the platform.
“By combining our multinational platform with CBIZ’s strong market presence, we’re broadening our ability to support businesses through every stage of growth – from early development to global scale,” said Jim Peko, chief executive officer of Grant Thornton Advisors. “Together, we’ll bring the quality, breadth and capabilities clients need to navigate an increasingly complex and rapidly evolving business environment.”
US market
In the United States, Grant Thornton operates through two entities: Grant Thornton LLP, which provides licensed audit and attest services, and Grant Thornton Advisors, which delivers non-attest tax and business advisory services.
“Following the acquisition of CBIZ, Grant Thornton will become the fifth-largest provider in the US and one of the most forward-thinking firms globally in the use of artificial intelligence. We’re pleased to continue supporting Grant Thornton Advisors’ strategic growth plan,” said Andre Moura, managing director at New Mountain Capital.
“That scale and forward momentum will put the combined firm in a stronger position than ever to serve its clients and create meaningful opportunities for its partners and staff.”
Jerry Grisko, president and chief executive officer of CBIZ, added: “This is a historic combination with a strong cultural and strategic fit. CBIZ has grown rapidly over many years to become a leading professional services provider. Joining Grant Thornton Advisors accelerates the realization of that vision, creating a stronger firm with new and exciting opportunities for our team members and enhanced service offerings for clients.”
What’s next
Following completion of the transaction, Grant Thornton will begin integrating CBIZ, bringing together teams across the 200 office locations both companies have in the United States. As part of the integration, CBIZ’s Benefits and Insurance Services segment will be carved out into a new standalone company, also backed by New Mountain Capital.
Grant Thornton Advisors CEO Peko meanwhile hinted that the platform will continue to expand its reach in key markets, with the ambition to build a leading global professional services network.
