Cleveland-based CBIZ (FY15 net revenue of $610 million) announced that it has acquired Actuarial Consultants Inc. (ACI) of Torrance, Calif., and The Seff Group of Denver.
With approximately $2.5 million in annual revenue, ACI provides design, consultation and administration of 401(k) plans, profit-sharing plans, non-qualified plan administration and traditional defined benefit plans to more than 400 clients.
Seff provides full-service accounting, tax, compliance and financial consulting services to closely held businesses, their owners and related entities, to high-net-worth individuals and family groups, and to trusts and estates.
Justin Bonestroo of ACI says, “ACI has long been committed to providing the highest level of consulting to our clients, who will now have access to national expertise in accounting, tax, employee benefits and payroll services. Joining CBIZ not only affirms our commitment to our clients, but also provides our staff with opportunities for growth within a leading national organization.”
Dan Seff of The Seff Group says, “The Seff Group and CBIZ are a perfect match. The Denver metropolitan area now has a new and powerful team to support clients’ accounting, tax and financial service needs. As part of CBIZ we will combine an unmatched local presence and experience with the depth and expertise of a leading national provider. It’s an exciting day for our team and our clients.”
Jerry Grisko, president and CEO of CBIZ, says of the ACI deal, “This is the latest in a series of acquisitions through which we continue to strengthen our position as a leading national provider of retirement planning services. In just over a year, and including the ACI acquisition, we have added more than $30 million in revenue to our retirement planning services practice.” He says of the Seff acquisition, “In addition to greatly strengthening our current offerings, this acquisition will enhance our leadership and add meaningful scale to our presence in Denver – an important market for CBIZ.”