CBIZ Acquires Private Equity Consulting Firm, Insurance Agency

Cleveland-based CBIZ (FY15 net revenue of $610 million) has announced that it has acquired substantially all of the assets of Philadelphia-based CMF Associates and a South Florida insurance agency, Slaton Insurance.

Founded in 2001, CMF provides transaction and transition-focused financial, operational and human capital solutions to private equity firms and their portfolio companies across North America.

CMF MP Thomas Bonney said the firm was looking for a partner who shared their “growth-oriented vision.” He adds, “We found in CBIZ an advocate that will provide us with offices across the country, complementary tangential services and the resources to drive portfolio value creation in a more comprehensive way and on a national scale.”

CMF has served more than 135 private equity funds across more than 500 companies with transaction advisory, office of the CFO, strategic financial planning and analysis, and executive search offerings. It has three U.S. offices and one in Vancouver, British Columbia. CMF has more than 75 associates with about $19.2 million in revenue in 2016.

Jerry Grisko, president and CEO of CBIZ, said, “Our intent is to provide a level of service and breadth of expertise – that doesn’t currently exist – to one of the fastest-growing industries in the U.S.”

In addition, it has acquired an insurance agency that specializes in golf and country clubs. West Palm Beach, Fla.-based Slaton Insurance provides property, casualty and personal insurance for clients in and around Florida’s North Palm Beach County.

The company has 14 employees and recorded $2.6 million in revenue in 2016, according to a statement by CBIZ.

“The addition of Slaton will enhance our South Florida operations and complement our Delray Beach office by expanding our expertise in North Palm Beach County,” Grisko says.

John “Cal” Boynton, president, and Casey Cunniff, MP of Slaton say, “Joining CBIZ gives us the opportunity to continue to provide our clients with the service they have come to know and trust. Our clients will further benefit by having access to the full suite of CBIZ’s offerings including risk management, payroll and financial services. Additionally, CBIZ’s culture closely aligns with that of Slaton, making this a seamless transition for our employees and clients alike.”

In 2014, CBIZ purchased Weekes & Callaway, an insurance agency in Delray Beach, Fla. W&C had about $9 million in annual revenue and many of its largest clients were golf, yacht and country clubs.