"

Estimated reading time: 1 minute, 14 seconds

CBIZ Buys Marks Paneth

Publicly held CBIZ has purchased Top 50 accounting firm Mark Paneth in a deal that significantly increases its size. By itself, the acquired operations are 15.5 percent of CBIZ’s revenue for 2020.

Marks Paneth will operate as a separate business unit, initially branded as CBIZ Marks Paneth Marks Paneth is expected to add $138 million in revenue to CBIZ which had revenue for $948 million for the year ended Dec. 31, 2020. It also brings 600 employees to the acquirier.

In an investor presentation, CBIZ reported its six acquisitions last year added $75 million to the top line. Together, the deals easy push the purchaser over the $1-billion mark in annual revenue. In a concurrent deal, Mayer Hoffman McCann, which works closely with CBIZ, has acquired Marks Paneth’s attest assets.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Read 779 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.