CBIZ to acquire Marcum in cash-and-stock transaction is valued at $2.3B

CBIZ announced that it has entered into a definitive agreement to acquire the non-attest business of Marcum, LLP, which will make CBIZ the seventh-largest accounting services provider in the U.S. with approximately $2.8B in annual revenue. Concurrent with the closing of this transaction, the attest business of Marcum will be acquired by Mayer Hoffman McCann P.C., a national independent CPA firm with which CBIZ has had an Administrative Service Agreement for over 25 years. The cash-and-stock transaction is valued at approximately $2.3B. It is expected that approximately half of the transaction consideration will be paid in cash and the remainder shares of CBIZ common stock. The transaction is expected to close in the fourth quarter of 2024 subject to the approval of CBIZ stockholders, the approval of Marcum’s partners and other customary closing conditions.