CBIZ, Inc.

Formerly	Stout Environmental, Inc. (1987) International Alliance Services, Inc. (1996) Century Business Services, Inc. (1997)
Company type	Public
Traded as	NYSE:  CBZ ( Class A) S&P 500 component
ISIN	IE00B4BNMY34
Industry	Professional services Business services
Founded	1987; 37 years ago (1987)
Headquarters	Cleveland, Ohio
Key people	Jerome Grisko (President and CEO) [1]
Revenue	US$1.59 billion (2023) [2]
Operating income	US$165 million (2023) [2]
Net income	US$120 million (2023) [2]
Total assets	US$2.04 billion (2023) [2]
Total equity	US$791 million (2023) [2]
Number of employees	6,700 (2023) [2]
Website	www.cbiz.com

CBIZ, Inc. is a national provider of financial, insurance and advisory services headquartered in Cleveland, Ohio. CBIZ is one of the largest accounting, insurance brokerage, financial and advisory services providers in the United States with more than 120 offices and nearly 7,000 employees. It's common stock has been traded on the New York Stock Exchange since 1996, under the symbol "CBZ" since 1997, and is one of the country's 10 largest accounting firms. ^{[3] [4]}

History

In 1987, Stout Environmental, Inc. ("Stout") was formed as a Delaware corporation. ^[5] It was acquired by Republic Industries in 1992. In April 1995, Republic Industries spun off the business into an entity known as Republic Environmental Systems, which was merged with Century Surety Company (which was part of Alliance Holding Corporation) into a newly formed entity, International Alliance Services, Inc. (Nasdaq: IASI) in October 1996. ^[6] In 1997, IASI sold it's environmental services operations and changed its name to Century Business Services, Inc. (NYSE: CBZ) in December 1997. ^[7] In 1998, Century Business acquired Beall Garner Screen & Geare Inc., one of the largest privately owned insurance agencies in the United States (formerly run by U.S. Senator J. Glenn Beall Jr.). ^[8] The company changed its name to CBIZ, Inc. in August 2005. ^[9]

Since 1998, CBIZ and Mayer Hoffman McCann P.C. have operated an alternative practice structure in which they act as separate, independent legal entities that work together to provide accounting services to clients, sharing a tax and consulting practice, CBIZ MHM LLC, which is a division of CBIZ. ^[3]

Services and operations

The business is organized into three practice groups: ^[2]

• Financial Services: comprised of core accounting services including traditional accounting, tax compliance, advisory, and specialty services, like transaction and risk advisory services, litigation support, valuation, and federal and state government health care compliance and consulting.
• Benefits and Insurance Services: provides brokerage and consulting expertise for group health benefits and property and casualty insurance in addition to retirement plan advisory and investment services, payroll, human capital management, and other related services.
• National Practices: information technology focusing on managed networking and hardware services and healthcare consulting.

Acquisitions

• 2022: Marks Paneth LLP, ^{[10] [11]} Stinnett & Associates, LLC. ^[12]
• 2023: Danenhauer and Danenhauer, Inc., ^[13] Somerset CPAs and Advisors, ^[3] Pivot Point Security, ^[14] Ickovic and Co. PC, ^[15] and American Pension Advisors, Ltd. ^[16]
• 2024: Erickson, Brown & Kloster, ^[13] CompuData, Inc. ^{[17] [18]}

Notable people

• Ed Feighan (former U.S. Representative from Ohio) ^{[19] [20]}
• Wayne Huizenga (founded AutoNation and Waste Management Inc.) ^[21]
• Michael DeGroote (Canadian businessman) ^[21]
• Joel Kramer (former professional basketball player) ^[22]

See also

• Mayer Hoffman McCann P.C.

References

External links

Wikimedia Commons has media related to CBIZ.

• Official website
• Business data for CBIZ, Inc.:
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  • SEC filings
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