Grant Thornton to Acquire CBIZ in $5 Billion Deal, Creating Fifth-Largest US Tax and Advisory Firm

Grant Thornton announced its acquisition of CBIZ for $5 billion, a move set to establish the fifth-largest tax, advisory, and professional services company in the United States. This merger, fueled by a significant investment from private equity firm New Mountain Capital, highlights the increasing influence of private equity in the accounting sector and aims to expand the combined entity's geographic footprint and service offerings.