Mergers

Community News

CBIZ Begins Integration Of Its Operations

Professional services firm consolidator Century Business Services announced today a year long effort to consolidate its offices in markets where multiple CBIZ offices exist.CBIZ will initially consolidate 10 of its largest markets where the Company has acquired multiple companies over the past three years, including its BIZ Centers in Washington DC, Philadelphia, Atlanta, Kansas City, Colorado, Northern and Southern California, Cleveland, Chicago, and Texas.
Community News

Centerprise Withdraws IPO Bid

Two weeks ago, CPA firm roll-up-wanna-be Centerprise Advisors LLC got approval from the SEC to start determining investor interest in a planned IPO. This Monday, Centerprise received regulatory approval from the SEC to begin trading on Tuesday morning.
Community News

CBIZ Contemplates Its Own Future Plans

Century Business Services announced this week that it has hired Merrill Lynch & Co. to explore strategic alternatives which would result in increased shareholder value for the accounting consolidator. Among the alternatives it is exploring is finding a merger partner or even selling itself outright. Over the past few months, CBIZ has been approached by several parties to explore exclusive business relationships. They have not yet found the relationship yet that makes the most sense for shareholders. Michael G.
Community News

PAR Top 100 List Shows Effects of Consolidators

It's no surprise that the Big 5 are on top of Public Accounting Report's Top 100 for 1999. What may surprise you is who's not on the Atlanta-based newsletter's exclusive survey.At least 12 firms that ranked in the Top 100 in 1998 dropped off the list this year due to consolidation activity. McGladrey & Pullen, ranked as the nation's seventh-largest accounting firm last year, is one of the largest affected. McGladrey & Pullen and others didn't make the list because audit services must be offered by a firm to be included in PAR's Top 100.
Community News

HRB International Taps Former AmEx Exec

H&R Block expands its international tax operations today by appointing Jeffery Yabuki to the newly created position of President of H&R Block International.Mr. Yabuki will head up the company's international tax operations, with primary focus on Australia, Canada and the United Kingdom. He will also be responsible for implementing the financial services expansion stategy overseas.Mr. Yabuki was former President and CEO of American Express Tax and Business Services, and was a key player in the CPA firm acquisition strategy of American Express.
A&A

H&R Block Buys Discount Stock Brokerage

H&R Block solidified a deal Wednesday to buy Olde Financial Corp., a discount stock brokerage based in Detroit. The company was bought for a reported $850 million in cash, and is intended to provide an estimated 16.5 million H&R Block customers with a greater range of financial services.
Community News

CBiz Acquires Tri-Tek Information Services

Century Business Services (CBiz) has acquired Tri-Tek Information Systems, a privately held technology services company based in St. Louis.

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