M&A Deal Summary

CBIZ Acquires Benicor Associates

On October 3, 2002, CBIZ acquired insurance company Benicor Associates

Acquisition Highlights
  • This is CBIZ’s 1st transaction in the Insurance sector.
  • This is CBIZ’s 1st transaction in the United States.
  • This is CBIZ’s 1st transaction in Maryland.

M&A Deal Summary

Date 2002-10-03
Target Benicor Associates
Sector Insurance
Buyer(s) CBIZ
Deal Type Add-on Acquisition

Target

Benicor Associates

Calverton, Maryland, United States
Benicor Associates, Inc. provides benefits services including group insurance, benefits administration and outsourcing. Benicor’s diverse client base includes law firms, government contractors, high-tech companies, non-profit organizations, retailers, and service providers.

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Buyer(S) 1

Buyer

CBIZ

Cleveland, Ohio, United States

website


Category Company
Founded 1987
Sector Business Services
Employees6,000
Revenue 1.1B USD (2021)
DESCRIPTION

CBIZ provides professional business services, products and solutions that help its clients grow and succeed by better managing their finances and employees. These services are provided to businesses of various sizes, as well as individuals, governmental entities and not-for-profit enterprises throughout the United States and parts of Canada. CBIZ delivers its integrated services through the following three practice groups: Financial Services, Employee Services, and National Practices. By providing custom solutions that help clients manage their finances and employees, CBIZ enables its clients to focus their resources on their own core business and operational competencies. CBIZ was founded in 1987 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 1 of 64
Sector (Insurance) 1 of 29
Type (Add-on Acquisition) 1 of 57
State (Maryland) 1 of 2
Country (United States) 1 of 63
Year (2002) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-16 ResourceOne Benefits

Deerfield Beach, Florida, United States

ResourceOne Benefits, Inc. is a provider of group insurance, benefits administration and outsourcing. Company specializes in the hospitality industry and not-for-profit sector.

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