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View More Press Releases by CBIZ, Inc.

Press release:

CBIZ Acquires Pension Resource Group, Inc.

Issued by: CBIZ, Inc.

Date: Oct. 2, 2015

CLEVELAND, Oct. 1, 2015 -- CBIZ, Inc. (NYSE: CBZ) (the "Company") today announced that it has acquired Pension Resource Group, Inc. ("PRG"), based in Woodstock, GA, effective October 1, 2015.

Co-founded by Michael Croyle in 1995, PRG provides pension administration solutions including defined benefit administration, data warehousing, benefit communication, compensation statement and human capital services to clients ranging in size from 500 to over 60,000 participants.  PRG has 35 employees and recorded approximately $4.8 million in revenue over the past twelve months.

Steve Gerard, Chairman and CEO of CBIZ stated, "We look forward to welcoming Mike and his team to CBIZ.  By combining PRG's experienced pension consultants and actuaries, along with their propriety IPASMasterô pension software platform, with our growing and nationally recognized CBIZ Retirement Plan Services business we can provide a total retirement solution that will better serve our clients."

Michael Croyle of PRG stated, "We are very excited to join CBIZ.  We are confident that joining forces with the current CBIZ retirement team will strengthen our ability to serve our clients.  We feel the CBIZ culture and additional service offerings are a perfect fit for our associates and clients alike."

Named one of America's 2015 Best Employers and ranked as the #1 employer in the consulting and accounting industry by Forbes magazine, CBIZ, Inc. provides professional business services that help clients better manage their finances and employees.  CBIZ provides its clients with financial services including accounting, tax, financial advisory, government health care consulting, risk advisory, real estate consulting, and valuation services.  Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment.  As one of the largest accounting, insurance brokerage and valuation companies in the United States, the Company's services are provided through more than 100 Company offices in 34 states.

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected.  Such risks and uncertainties include, but are not limited to, the Company's ability to adequately manage and sustain its growth; the Company's dependence on the current trend of outsourcing business services; the Company's dependence on the services of its CEO and other key employees; competitive pricing pressures; general business and economic conditions; and changes in governmental regulation and tax laws affecting the Company's insurance business or its business services operations.  A more detailed description of such risks and uncertainties may be found in the Company's filings with the Securities and Exchange Commission.

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View More Press Releases by CBIZ, Inc.


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