Market Overview

CBIZ Acquires Employee Benefits Provider Model Consulting, Inc.

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CBIZ, Inc. (NYSE: CBZ) (the "Company") today announced that it has acquired Model Consulting, Inc. ("Model"), based in Trevose, PA, effective March 1, 2015.

Founded by Neil Model in 1990, Model provides employee benefit consulting services to mid-sized companies in the Philadelphia and Southern New Jersey markets. Model, which will be integrated in to the Company's Plymouth Meeting office, has 13 employees and is expected to add approximately $4.2 million to annualized revenue.

Steve Gerard, Chairman and CEO of CBIZ stated, "We are excited to welcome Neil and his team to CBIZ. Their consultative approach to providing group benefit services and their focus on superior client service aligns with ours and makes them a great fit. Having the Model benefits team join our Plymouth Meeting operations will further enhance our employee benefit services, and complements our current financial services, property and casualty, and retirement service offerings in the Mid-Atlantic."

Neil Model of Model Consulting, Inc. stated, "After 25 wonderful years building Model Consulting into one of the premier benefit consulting organizations in the Delaware Valley, I am looking forward to joining CBIZ, the #1 Benefit Specialist in the country. Together we will be able to provide expanded expertise and world class service to our clients."

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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