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.
