CBZ - CBIZ acquires accounting firm Somerset

• CBIZ ( NYSE: CBZ ) said Thursday it acquired non-attest assets of Somerset CPAs and Advisors, effective February 1. Terms were not disclosed.
• Concurrently, Mayer Hoffman McCann P.C., an independent CPA firm that works closely with CBIZ ( CBZ ), acquired the attest assets of Somerset.
• The acquisition adds ~$55M to CBIZ ( CBZ ) revenue.
• Somerset, based in Indianapolis, Indiana, provides accounting, tax, and financial advisory services to clients in various industries.
• "Together, we will now be able to provide our combined clients with an expanded breadth of services backed by a national network of professionals. Somerset's depth of expertise across numerous industries also creates strategic opportunities to better serve our current clients and attract new ones," said CBIZ ( CBZ ) CEO Jerry Grisko.

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