CLEVELAND, April 3, 2018 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) (the "Company") today announced that it has acquired substantially all of the assets of InR Advisory Services, LLC ("InR"), effective April 1, 2018.
InR provides investment advisory services for public and private sector clients and non-profit organizations, and recorded approximately $3.5 million in revenue in 2017.
Michael Glackin, President of InR, said, "It was very important for us to partner with a leading national company like CBIZ that shares our same commitment to our employees and clients. We can now bring additional services and resources to our clients while continuing to expand our presence in Pennsylvania and beyond."
Jerry Grisko, President and CEO of CBIZ, stated, "The acquisition of InR deepens our investment management expertise and specifically taps into the municipal pension and 457 marketplace. InR's reputation of integrity and outstanding client service makes them an ideal partner for CBIZ, and we look forward to working with the entire InR team."
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.
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SOURCE CBIZ, Inc.
Lori Novickis, Director, Corporate Relations, CBIZ, Inc., Cleveland, Ohio, (216) 447-9000