Adrian JohnsonTLDR:
CBIZ is acquiring Marcum in a $2.3 billion cash-and-stock deal, creating the seventh largest accounting firm in the U.S. with $2.8 billion in annual revenue. The transaction, expected to close in the fourth quarter, will see CBIZ acquiring nonattest assets and Mayer Hoffman McCann P.C. acquiring attest assets. The merger will allow both firms to provide a broader array of high-value solutions to clients and attract top talent. The integration plan is expected to span 18 to 24 months, focusing on client service and aligning systems. The combined firm will have more than 10,000 team members and over 135,000 clients.
CBIZ and Marcum have both participated in multiple M&A deals in recent years, demonstrating a history of growth through acquisitions. The acquisition of Marcum by CBIZ is seen as a groundbreaking deal in the accounting profession, potentially paving the way for more non-CPA firm ownership in the future. The transaction is subject to approval by CBIZ’s stockholders and Marcum’s partners, among other closing conditions, and is expected to close in the fourth quarter of 2024.
Overall, the merger between CBIZ and Marcum is expected to significantly expand the size and capabilities of the combined accounting firm, providing more opportunities for employees and clients while delivering exceptional accounting, tax, advisory, business, and insurance services to middle-market clients.
