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Deals & People August 1, 2011
CBIZ to Acquire Multiple Benefit Services
CBIZ, Inc. has signed an agreement to acquire Multiple Benefit Services, Inc. (MBS).
Reported by PLANADVISER staff
MBS provides employee benefit consulting, support, and services to 80 national and international clients, ranging in size from Fortune 500 companies to those with less than 100 employees. The Atlanta-based firm, founded in 1992, recorded approximately $3.5 million in revenue during the past year.
CBIZ offers financial services, such as accounting and tax, internal audit, merger and acquisition advisory and valuation services, to help clients better manage their finances and employees. Employee services include group benefits, property and casualty insurance, retirement plan consulting, payroll, HR consulting, and wealth management, as well as outsourced technology staffing and support services, healthcare consulting, and medical practice management.
“We believe that CBIZ’s full suite of insurance and financial services positions MBS to offer significantly expanded resources to our existing client base,” said Marion B. Schremp, MBS CEO. “This merger also allows us to move forward with and accelerate our own growth plans.”