CLEVELAND, Jan. 7, 2014 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) today announced that it has acquired substantially all the assets of Clearview National Partners, L.L.C., ("Clearview") of Waltham, Massachusetts, effective January 1, 2014.
Clearview is a specialized employee benefits broker focused on providing employee benefit solutions to clients with more than 100 employees. This acquisition will add 6 employees and approximately $2.5 million in annualized revenue to CBIZ.
David A. Bamel of Clearview stated, "We are pleased to join the CBIZ team and look forward to offering an expanded array of superior professional services to our clients. CBIZ Tofias has the well-deserved and long-standing reputation of being the premier regional accounting service provider in Greater Boston and we look forward to expanding this market presence further with employee benefits consulting and brokerage services. We are excited about the mutual synergies this merger provides."
Steve Gerard, CBIZ Chairman and CEO, stated, "We welcome Ron Morrison, David Bamel and the Clearview team to CBIZ. Their extensive employee benefits underwriting experience and analytical capabilities will greatly benefit our clients. The New England market already has access to our accounting, tax and financial services expertise, and with this acquisition we will be better equipped to provide premier employee benefit solutions to our clients as well."
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 nation's largest brokers of employee benefits and property and casualty insurance, and one of the largest accounting and valuation companies in the United States, the Company's services are provided through nearly 100 Company offices in 32 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.