Latham Advises on Preferred Equity Financing for Grant Thornton Advisors’ Completed Acquisition of CBIZ

Grant Thornton Advisors LLC (together with its affiliates, Grant Thornton Advisors), New Mountain Capital, and CBIZ, Inc. (CBIZ) have announced that Grant Thornton Advisors completed its acquisition of CBIZ with an enterprise value of US$5 billion. The combination creates the fifth-largest US provider of professional services, tax, and advisory offerings, with more than US$5 billion in annual domestic revenue. It also marks the completion of the largest transaction of its kind in more than 25 years.

Latham & Watkins LLP represented certain of the financing sources supporting the acquisition with a team led by partners Stelios Saffos, Global Chair of Latham’s Capital Markets and Hybrid Capital practices, Peter Sluka, Global Co-Chair of the Hybrid Capital Practice, and Andrew Blumenthal, with associate Ian Lachow. Advice was also provided on tax matters by partner Pardis Zomorodi.