CBIZ acquired Marks Paneth LLP for ~$81.25 million cash at closing (plus earnout of up to $75.25 million in cash and CBIZ stock), a transaction announced in January 2022.
Acquired substantially all of the non-attest business of New York City accounting, tax and consulting firm Marks Paneth, expanding CBIZ's Financial Services practice in the New York metro market.
Acquired substantially all of the non-attest business of New York City accounting, tax and consulting firm Marks Paneth, expanding CBIZ's Financial Services practice in the New York metro market.
The initial purchase price for the Acquisition consisted of approximately $81.25 million in cash paid at closing, subject to a customary working capital adjustment. In addition to the purchase price paid at closing, the Purchase Agreement also provides for an earnout of up to a maximum of $75.25 million.
Advisory firms were not disclosed for this transaction.