Equiteq is pleased to announce that it has advised CMF Associates (“CMF”), a leading provider of financial and operational consulting services to the private equity sector, on the sale of its business to CBIZ, a national, publicly-traded professional business services firm. The transaction closed on June 8th, 2017. This transaction highlights Equiteq’s position as the leading global provider of advisory services exclusively to firms in the knowledge-intensive business services sector.
Founder and Managing Partner at CMF, Thomas Bonney said, “CMF sought a committed partner who shared our growth-oriented vision of scaling our position as a premier service provider to private equity and their expanding portfolio. 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.”
Jerry Grisko, President and CEO of CBIZ, said, “The acquisition of CMF represents a strategic step in establishing CBIZ as an industry leader of professional business services to middle-market focused private equity firms. 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. Tom and his leadership team will become integral leaders in our national private equity practice and we look forward to growing together.”
Tom Bonney added, “We hired Equiteq initially to assess the value and attractiveness of our business to the market. We were highly impressed with their knowledge of the consulting sector and their approach to understanding our business. Equiteq provided the right advice at the right time during the process; our initial decision in selecting Equiteq was validated throughout the transaction. We are extremely grateful to the Equiteq team for their expertise and tenacity in finding the right partner in CBIZ, and for negotiating a transaction that met with the objectives of our shareholders.”
Adam Tindall, Director in Equiteq’s New York office, commented, “We were excited to be trusted by the team at CMF to help them realize their transaction objectives. They had clearly built a great business that their clients valued. Ultimately, this transaction is a great outcome for CMF and CBIZ. We worked alongside Tom and his team to position the business carefully and in a way that resonated with the buyer community. Our goal was to provide the CMF shareholders with options when considering the next home for the business and its employees. The strategic, synergistic and cultural fit with CBIZ was immediately apparent and we wish both parties the greatest success in the future.”
About Equiteq http://www.equiteq.com/home
Equiteq is a global sector-focused M&A and strategic advisory firm. The company works with the shareholders of knowledge-intensive business services firms, helping them to achieve their business and exit objectives. Equiteq’s services are designed to deliver great returns for its clients by accelerating revenue, profit, equity value, and realizing that value in a transaction.
About CMF Associates http://cmfassociates.com/
CMF Associates, LLC, private equity’s preferred operating partner for finance and financial leadership, delivers transaction- and transition-focused financial, operational, and human capital solutions to private equity-backed portfolio companies. Headquartered in Philadelphia and with offices in Chicago, New York, and Vancouver, CMF’s offering includes interim CFO, COO, and controllership services; M&A advisory, including pre-transaction due diligence, carve-out services and post-transaction integration; full-time executive search; and deal sourcing.
About CBIZ https://www.cbiz.com/
CBIZ, Inc. provides professional business services that help clients better manage their finances, employees, and insurance needs. CBIZ provides its clients with financial services including accounting, tax, financial advisory, government healthcare consulting, risk and advisory, and valuation services. Benefits and insurance services include group health benefits consulting, property and casualty insurance, retirement plan consulting, payroll, and HR consulting. 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 33 states.