M&A Deal Summary

CBIZ Acquires HDR Benefit Advisors

On October 12, 2004, CBIZ acquired insurance company HDR Benefit Advisors

Acquisition Highlights
  • This is CBIZ’s 3rd transaction in the Insurance sector.
  • This is CBIZ’s 6th transaction in the United States.
  • This is CBIZ’s 2nd transaction in Maryland.

M&A Deal Summary
Date 2004-10-12
Target HDR Benefit Advisors
Sector Insurance
Buyer(s) CBIZ
Deal Type Add-on Acquisition

Target

HDR Benefit Advisors

Owing Mills, Maryland, United States
HDR Benefit Advisors is a benefits brokerage and consulting firm specializing in providing health and welfare services as well as retirement and financial planning to a wide range of business clients.

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Buyer(S) 1

Buyer

CBIZ

Cleveland, Ohio, United States
Category Company
Founded 1987
Sector Business Services
Employees6,700
Revenue 1.6B USD (2023)
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 6 of 69
Sector (Insurance) 3 of 29
Type (Add-on Acquisition) 6 of 62
State (Maryland) 2 of 2
Country (United States) 6 of 68
Year (2004) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-23 HarborView Partners

Stamford, Connecticut, United States

HarborView Partners, LLC is a provider of internal audit services to corporations throughout the U.S.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-18 Gallery Asset Management

United States

Gallery Asset Management, Inc. provides retirement plan consulting services to corporate clients and wealth management services to high net-worth individuals.

Buy -
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