CBIZ Announces the Closing of its Miami Office

Cleveland-based CBIZ, Inc. (FY13 net revenue of $532 million) announced that it will close its current Miami office. A small number of staff will be relocated to CBIZ’s office in Boca Raton, Fla. and the remainder of the staff will join Richmond, Va.-based Cherry Bekaert LLP (FY14 net revenue of $130.8 million) in its Miami office.

Steven Gerard, chairman and CEO of CBIZ, says 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.”

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 Tampa, Fla. and another in Delray Beach, Fla. in order to extend the breadth and quality of services we provide to our clients. With existing Florida offices, CBIZ will continue to explore additional acquisition opportunities within the state, including the important Miami market.”