CBIZ Acquires Stoltz and Company

Cleveland-based CBIZ Inc. (FY11 net revenue of $598 million) acquired the assets of Midland, Texas-based Stoltz and Company on July 1. The acquisition of the regional insurance broker includes three offices in Texas, adds 13 employees and an estimated $3.2 million in revenue.

Steven Gerard, CBIZ Chairman and CEO, called the move “an important step in building out our national property and casualty footprint as well as expanding our presence in both the captive risk and energy markets.” CBIZ services are provided through more than 130 offices in 37 states.

Mark Stoltz says, “We are excited about the privilege to join with the world class CBIZ organization. Joining CBIZ will allow us to take our business to the next professional level along with allowing us to expand our national energy practice.”