CBIZ Acquires California-Based ACI
CLEVELAND, OH, November 2, 2016 -- CBIZ, Inc. (NYSE: CBZ) (the "Company") today announced that it has acquired Actuarial Consultants, Inc. ("ACI") effective November 1, 2016.
ACI was founded in 1983 and is based in Torrance, California. With approximately $2.5 million in annual revenue, ACI provides design, consultation and administration of 401k plans, profit-sharing plans, non-qualified plan administration and traditional defined benefit plans to more than 400 clients.
Justin Bonestroo of ACI said, "We are very excited to join CBIZ. ACI has long been committed to providing the highest level of consulting to our clients, who will now have access to national expertise in accounting, tax, employee benefits and payroll services. Joining CBIZ not only affirms our commitment to our clients, but also provides our staff with opportunities for growth within a leading national organization."
Jerry Grisko, president and CEO of CBIZ, said, "This is the latest in a series of acquisitions through which we continue to strengthen our position as a leading national provider of retirement planning services. In just over a year, and including the ACI acquisition, we have added more than $30.0 million in revenue to our retirement planning services practice. Under Justin's strong leadership, the addition of ACI will further expand our business and capabilities in the key California market. We welcome the ACI team and look forward to working with them."
CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services including accounting, tax, financial advisory, government healthcare consulting, risk advisory, and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, and HR consulting. As one of the largest accounting, insurance brokerage and valuation companies in the United States, the Company's services are provided through more than 100 Company offices in 33 states.
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