CLEVELAND, July 5, 2023
/PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) ("the Company"), a leading
provider of financial, insurance and advisory services, announced
today that it has acquired American Pension Advisors, Ltd. ("APA")
of Indianapolis, IN, effective
July 1, 2023.
Founded in 1997, APA provides full-service retirement plan
consulting and administration assisting more than 1,200 clients in
the design, implementation, and administration of all types of
retirement plans including 401(k), 403(b), 457(b), defined benefit
and cash balance. APA has 14 employees and approximately
$2.9 million in revenue.
Jerry Grisko, President and CEO
of CBIZ, said, "The acquisition of American Pension Advisors brings
valuable talent, expertise, and capacity to bolster our growing
Retirement Investment Services business. At the same time, this
acquisition also strengthens our presence and visibility in the
Indianapolis metro market and
complements another acquisition in the same market we completed
earlier this year. Working together, we will be able to offer our
collective clients a broader array of services. I am pleased to
welcome the APA team to CBIZ."
David Behrmann, of APA, stated,
"We are so excited to join forces with a nationally recognized
company like CBIZ. We look forward to offering the additional
services and expertise of CBIZ to help our clients grow and
succeed. I'm pleased that our team members will now have access to
additional technical support, resources and tools that will make
them more successful and better serve our clients."
About CBIZ
CBIZ, Inc. is a leading provider of financial, insurance, and
advisory services to businesses throughout the United States. Financial services include
accounting, tax, government health care consulting, transaction
advisory, risk advisory, and valuation services. Insurance services
include employee benefits consulting, retirement plan consulting,
property and casualty insurance, payroll, and human capital
consulting. With more than 120 Company offices in 33 states, CBIZ
is one of the largest accounting and insurance brokerage providers
in the U.S. For more information, visit www.cbiz.com.
Forward-Looking Statements
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 risk that the
anticipated benefits and perceived advantages of an acquisition may
not be achieved; the impact of COVID-19 or governmental rules
related to public health issues on the Company's business,
operations and clients; the Company's ability to adequately manage
and sustain its growth; the Company's dependence on the trend of
outsourcing business services; the Company's dependence on the
services of its CEO, other key employees, producers and service
personnel; the effects of any potential cyber-attacks; competitive
pricing pressures; general business and economic conditions; and
changes in governmental laws or regulation affecting the Company's
clients, business, business services operations, or business
models. A more detailed description of such risks and uncertainties
may be found in the Company's filings with the Securities and
Exchange Commission at www.sec.gov.
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SOURCE CBIZ, Inc.