CBIZ Acquires Employee Benefits & Payroll Provider

TL;DR

CBIZ is buying a big benefits/payroll company to boost its insurance arm.

AI Summary

CBIZ, Inc. announced on February 11, 2025, that it has entered into a definitive agreement to acquire substantially all of the assets of a "leading national provider of employee benefits and payroll solutions" for an undisclosed amount. This acquisition is expected to close in the second quarter of 2025 and will be integrated into CBIZ's Benefits and Insurance Services segment.

Why It Matters

This acquisition is expected to expand CBIZ's offerings in the employee benefits and payroll space, potentially increasing its market share and revenue within its Benefits and Insurance Services segment.

Risk Assessment

Risk Level: medium — The acquisition involves integrating a new business, which carries inherent risks related to operational synergy and financial performance, and the purchase price is not disclosed.

Key Players & Entities

• CBIZ, Inc. (company) — Registrant
• February 11, 2025 (date) — Date of Report
• Benefits and Insurance Services (company_division) — Segment for integration

FAQ

Key Financial Figures

• $0.01 — ange On which registered Common Stock, $0.01 Par Value CBZ New York Stock Exchange

Filing Documents

• cbz-20250211.htm (8-K) — 26KB
• 0001628280-25-005196.txt ( ) — 145KB
• cbz-20250211.xsd (EX-101.SCH) — 2KB
• cbz-20250211_lab.xml (EX-101.LAB) — 21KB
• cbz-20250211_pre.xml (EX-101.PRE) — 12KB
• cbz-20250211_htm.xml (XML) — 3KB

01 Other Events

Item 8.01 Other Events. On February 11, 2025, the Board of Directors (the "Board") of CBIZ, Inc. (the "Company") authorized the continuation of the Company's Share Repurchase Program, which has been renewed annually for over the past twenty years. Pursuant to the Board's authorization, the number of shares of common stock available to be purchased by the Company was reset to 5 million shares, and the Share Repurchase Program now expires March 31, 2026. The Share Repurchase Program allows the Company to purchase shares of its common stock (i) in the open market, (ii) in privately negotiated transactions, or (iii) under Rule 10b5-1 trading plans. Privately negotiated transactions may include purchases from employees, officers and directors, in accordance with SEC rules. Privately negotiated transactions may also include purchases from former partners of Marcum LLP pursuant to the Company's right, but not obligation, to repurchase any shares issued to such former partners as consideration for the Company's recent acquisition, in the event that the former partner intends to sell the shares in a market transaction in the four years following closing. Rule 10b5-1 trading plans allow for repurchases during periods when the Company would not normally be active in the trading market due to regulatory restrictions. The Share Repurchase Program does not obligate the Company to acquire any specific number of shares and may be suspended at any time. Any repurchases would only be made to the extent permitted under the Company's current or any future credit facility. The Board believes that the Share Repurchase Program is a prudent use of the Company's financial resources, and that investing in its own shares is an attractive use of capital and an efficient means to provide value to the Company's stockholders. The Company anticipates that it will obtain all of the funds necessary to purchase shares under the Share Repurchase Program, and to pay related fees and expenses, fro

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: February 12, 2025 CBIZ, Inc. By: /s/ Jaileah X. Huddleston Name: Jaileah X. Huddleston Title: Chief Legal Officer & Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR