CLEVELAND, Nov. 12, 2014 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) today announced that it will close its current Miami, Florida, office. A small number of staff will be relocated to CBIZ's office in Boca Raton, Florida and the remainder of the staff will join Cherry Bekaert LLP in its Miami office.
Steven L. Gerard, Chairman and Chief Executive Officer of CBIZ, stated that, "The relatively small size of our Miami accounting office did not provide us with sufficient scale to provide our expected array and level of professional services to our clients in the Miami market. This transaction will allow us to place our existing staff and clients in offices that are better able to serve their needs while we continue our search for a significant acquisition candidate in the Miami area that will provide us with a sufficient platform to distinguish ourselves from other high quality firms in the market."
Mr. Gerard commented further that, "CBIZ is committed to the Florida market and is making significant investments to expand our presence there. During 2014, CBIZ has made two strategic acquisitions in Florida, one in Tampa, and another in Delray Beach, in order to extend the breadth and quality of services we provide to our clients. With existing offices in Tampa, Orlando, Boca Raton, and Delray Beach, CBIZ will continue to explore additional acquisition opportunities within the state, including the important Miami market."
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 33 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.
SOURCE CBIZ, Inc.