Cleveland-based CBIZ Inc. has acquired The Wenner Group, of Greenwood Village, Colo. Wenner’s 14 employees and $2.4 million in revenue will be integrated into CBIZ’s Denver-based financial services practice.
- Wenner provides accounting, tax and consulting services to small and mid-sized businesses.
- This is CBIZ's third acquisition in Denver in as many years.
PRESS RELEASE
CLEVELAND, Jan. 7, 2019 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) (the "Company") today announced that it has acquired substantially all the assets of The Wenner Group ("TWG"), effective January 1, 2019.
Founded in 1961 and located in Greenwood Village, TWG provides accounting, tax and consulting services to small and mid-sized businesses. TWG's 14 employees and $2.4 million in revenue will be integrated into the Company's Denver-based Financial Services practice reporting to Dan Seff, Senior Managing Director.
Jerry Grisko, President and CEO of CBIZ, stated, "We are pleased to welcome The Wenner Group into the CBIZ family. This acquisition further enhances our service offerings and brings additional scale to our Denver operations. This is our third acquisition in Denver in as many years which is a testament to our commitment and expectation for future growth in this important market. We look forward to working with The Wenner Group's outstanding team."
Gary Saltzman of The Wenner Group, stated, "We take pride in our long history of providing the highest level of service to our clients, who will now have access to a broader array of services and national expertise. Joining CBIZ not only affirms our commitment to our clients, but also provides our staff with additional growth and development opportunities as part of a leading national organization."
CBIZ, Inc. provides professional business services that help clients better manage their finances, employees and insurance needs. CBIZ provides its clients with financial services including accounting, tax, financial advisory, government healthcare consulting, risk advisory and valuation services. Benefits and insurance services include group health benefits consulting, property and casualty insurance, retirement plan consulting, payroll and HR consulting. As a leading provider of accounting, insurance and other professional consulting services to businesses throughout the United States, the Company's services are provided through more than 100 Company offices in 33 states. For more information, please visit www.cbiz.com.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, the Company's ability to adequately manage and sustain its growth; the Company's dependence on the current trend of outsourcing business services; the Company's dependence on the services of its CEO and other key employees; competitive pricing pressures; general business and economic conditions; and changes in governmental regulation and tax laws affecting the Company's insurance business or its business services operations. A more detailed description of such risks and uncertainties may be found in the Company's filings with the Securities and Exchange Commission.
SOURCE CBIZ, Inc.
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