CLEVELAND, Feb. 2, 2018 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) (the "Company") today announced that it has acquired Laurus Transaction Advisors, L.L.C. ("Laurus") of Denver, CO, effective February 1, 2018.
Founded in 2008, Laurus provides buy-side and sell-side financial and accounting due diligence services for M&A transactions to private equity groups as well as public and private companies. Laurus has completed more than 650 financial and accounting due diligence engagements and projects for private equity groups and companies located throughout the U.S. Laurus recorded revenue of approximately $5.6 million in 2017 and will be combined with CBIZ's current Transaction Advisory Services group.
Co-founder and partner at Laurus Transaction Advisors, Mark Coleman said, "We sought a partner to leverage Laurus' market leading reputation by further scaling its ability to serve middle market private equity firms." "CBIZ offers a national platform and top ten accounting provider resources that enable us to broaden our reach and continue to deliver more responsive and value-added due diligence services," said Patrick Martin, co-founder and partner at Laurus Transaction Advisors.
Jerry Grisko, President and CEO of CBIZ, said, "The acquisition of Laurus further strengthens our position as an industry leader of professional business services to middle-market focused private equity firms. Mark and Patrick both share CBIZ's commitment to exceptional client service and we are excited to have them as key leaders in our national Transactional Advisory Services group."
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.
For further information regarding CBIZ, call our Investor Relations Office at (216) 447-9000 or visit our web site at www.cbiz.com.
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SOURCE CBIZ, Inc.
Lori Novickis, Director, Corporate Relations, CBIZ, Inc., Cleveland, Ohio, (216) 447-9000
