CBIZ Acquires Retirement Plan Consulting Firm South Winds, Inc. (dba Benexx)

CLEVELAND, Aug. 2 /PRNewswire-FirstCall/ -- CBIZ, Inc. (NYSE: CBZ) today announced the acquisition of South Winds, Inc. (d.b.a. Benexx), a retirement plan consulting firm located in Baltimore, Maryland, effective August 1, 2010.  

Founded in 2002, Benexx provides 401k and other qualified retirement plan services to over 400 companies nationally.  Benexx has developed a turnkey approach that simplifies the administration and reduces the cost of maintaining a 401k plan for small and mid-sized companies.  Benexx has 9 associates and recorded approximately $1.9 million in revenue during the past twelve months.  

Steven L. Gerard, CBIZ Chairman and CEO, stated, "Adding Benexx to the Employee Services Division creates value for our clients and leverage for our Company to distribute 401k services.  The addition of Darren Seward and Brett Kraimer will add depth to the leadership of our retirement plan practice."

Commenting on becoming part of the CBIZ organization, Benexx's Darren Seward stated, "CBIZ provides Benexx a national presence and resources that we need to accelerate our growth in a market that we believe is under served for 401k services."  Brett Kraimer, co-founder of Benexx stated, "This is the next evolution of Benexx and puts us in a tremendous position for immediate growth, while providing our existing clients and partners an even stronger platform to trust.   We will now be able to bring a much needed service to even more small business employers."

CBIZ, Inc. provides professional business services that help clients better manage their finances and employees.  CBIZ provides its clients with financial services including accounting and tax, internal audit, merger and acquisition advisory, and valuation services.  Employee services include group benefits, property and casualty insurance, payroll, HR consulting and wealth management.  CBIZ also provides outsourced technology staffing support services, healthcare consulting and medical practice management.   As one of the largest benefits specialists and one of the largest accounting, valuation and medical practice management companies in the United States, the Company's services are provided through more than 150 Company offices in 36 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 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 its 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.