CBIZ, Inc. Files Proxy Statement

TL;DR

CBIZ proxy filing is out, shareholders need to pay attention to voting matters.

AI Summary

CBIZ, Inc. filed a Definitive Proxy Statement (DEFA14A) on September 9, 2024, indicating it is soliciting materials under Rule 14a-12. The company, previously known as Century Business Services Inc., is based in Independence, Ohio, and operates in the business services sector. This filing does not require a fee.

Why It Matters

This filing is a routine proxy statement, which is important for shareholders to understand how the company is being managed and how their votes will be used.

Risk Assessment

Risk Level: low — This is a standard proxy statement filing, which typically does not involve new material risks.

Key Players & Entities

• CBIZ, Inc. (company) — Registrant
• Century Business Services Inc. (company) — Former company name
• 20240909 (date) — Filing date
• Rule 14a-12 (legal_document) — Soliciting material under

FAQ

Key Financial Figures

• $180 million — d firm in September of 2022. That was a $180 million firm. So it was very large. So, they pr
• $39 million — t for our high performers. So we have a $39 million pool of incentive compensation that wil
• $2.25 billion — s EBITDA. And that pencils out to about $2.25 billion. Its approximately 50% in shares and ap

Filing Documents

• d859567ddefa14a.htm (DEFA14A) — 73KB
• 0001193125-24-215917.txt ( ) — 75KB

From the Filing

DEFA14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under 240.14a-12 CBIZ, INC. (Name of Registrant as Specified In Its Charter) Not applicable. (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 In connection with the transactions contemplated by the previously announced Agreement and Plan of Merger (the Merger Agreement), dated July 30, 2024, among CBIZ, Inc., a Delaware corporation (the Company or CBIZ), Marcum LLP, a New York registered limited liability partnership (Marcum), Marcum Advisory Group LLC, a Delaware limited liability company and wholly owned subsidiary of Marcum (MAG), PMMS LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company (Merger Sub), and Marcum Partners SPV LLC, a Delaware limited liability company, the Company is submitting herewith a transcript of a fireside chat hosted by William Blair with members of the Companys management that was posted on the Companys website: Andrew Nicholas, William Blair: Alright. Good afternoon, everybody, and thank you for joining us this afternoon. Im Andrew Nicholas. Im the Global Services Analyst covering CBIZ here at William Blair in Chicago. I also have with me the full excuse me full CBIZ team here to chat on the second quarter results, and the large acquisition announcement of Marcum. Ill letwell, I guess we canwe can say we have the CEO, CFO, and President of Financial Services at CBIZ here, Jerry, Ware and Chris and also head of IR Lori Novickis. Look forward to this conversation, and thanks to each of you for doing this with us. The one thing that I will say before we get right into the questions is that CBIZ does have an investor presentation that they published alongside this deal announcement that saved out to the IR website. So some of that we will cover and summarize briefly to give people context. But if youre looking for a little bit more detail in terms of what CBIZ has published explicitly on this deal, feel free to look to the IR website for that information. All right. With that I would love to get started. You know, theres a bunch of different topics here that that Id love to cover today. Id like to speak to you guys a bit more about Marcum. Get to better understand their capabilities, their growth, and what that business looks like. Want to talk about the deal itself, what it does in terms of both financial and strategic items, and then, maybe to the extent that we have time at the end, Id love to touch on second quarter results, organic growth, and how youre thinking about, you know the balance of the year, as it relates to the guidance you provided at the end of July. So with that Ill get started and start talking on Marcum and again, thanks to each of you for joining. I guess my first question would just be on Marcum and their reputation in the industry and areas where theyre kind of particularly strong in, in terms of practice capabilities, geographic and regional footprint, just to give people on the call a sense of you know what makes Marcum a great business. Chris Spurio, CBIZ: Yeah. Sure, you know Marcum is a well-managed quality firm thats had a long track record of growth, theyre very focused on growth, both organic and inorganic. If you look at their geographic footprint, they have significant presence in the northeast. Think about Boston and Rhode Island. Think about New York, Metro. Think about Philadelphia as well as presence in Florida, and in the Midwest and in California . But a concentration of the revenue is in the northeast, and with that, if when you look at how we compare on a combined basis, you know, that will be that well go from Number 11 to Number 7 in size. But well be number 3 in Philadelphia, will be number 4 in New York Metro, which, you know, increases our brand and allows us to attract the best talent, and allows us to move up market with clients. Theyre very industry focused. We like that. Were in a lot of the same industries, but theyre in some different industries and vice versa. So its gonna allow us for the industries that were in to be even stronger at or solutions and or SMEs and then in the ones that were not or theyre not, it gives us an entry point into some attractive industries. Andrew Nicholas, William Blair : A few things that you mentioned there that Id love to

View Full Filing

View this DEFA14A filing on SEC EDGAR