CLEVELAND, Dec. 1, 2015 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) (the "Company") today announced that it has acquired The Cottonwood Group, Inc. ("Cottonwood"), of Overland Park, Kansas, effective December 1, 2015.
Founded in 2006, Cottonwood provides pension plan consulting, actuarial and investment services for institutional pension plans, retirement funds, endowment funds and foundations. Cottonwood has 15 employees and recorded approximately $3.1 million in revenue over the past year.
Janet Thompson of Cottonwood stated, "We look forward to joining a leading nationally recognized company like CBIZ. We pride ourselves in providing our clients with superior customer service and now we will be able to offer the national resources necessary for them to compete in today's market. We think joining CBIZ will also give our associates more room to grow in their careers and that will directly benefit our clients as well."
Steve Gerard, Chairman and CEO of CBIZ stated, "We are very pleased to welcome Janet Thompson and John Dykes along with their highly experienced team of professionals to CBIZ. Cottonwood has a stellar reputation and we look forward to further expanding our Retirement Plan Consulting business in one of our major markets."
Named one of America's 2015 Best Employers and ranked as the #1 employer in the consulting and accounting industry by Forbes magazine, CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services including accounting, tax, financial advisory, government health care consulting, risk advisory, real estate consulting, and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment. As one of the largest accounting, insurance brokerage and valuation companies in the United States, the Company's services are provided through more than 100 Company offices in 34 states.
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.
SOURCE CBIZ, Inc.