CBIZ Buys Goldstein Lewin
January 5, 2010 (FinancialWire) — CBIZ, Inc. (NYSE: CBZ) has acquired the non-attest business of Goldstein Lewin & Co., a South Florida accounting and financial services provider.
Concurrent with this transaction, Mayer Hoffman McCann P.C. ha acquired the attest business of Goldstein Lewin & Co..
CBIZ, Inc. and Mayer Hoffman McCann P.C. have an alternative practice structure. The two companies are separate and independent legal entities that work together to serve clients’ business needs.
Goldstein Lewin & Co. provides a broad spectrum of services including tax planning and compliance, wealth preservation and estate planning, technology consulting, software consulting, accounting, auditing, business valuation and litigation consulting.
The firm has 85 associates and recorded approximately $13.7 million in revenue during the past twelve months.
CBIZ will integrate and co-locate its existing financial services office based in Boca Raton with Goldstein Lewin, which it said will strengthen the company’s presence in the South Florida market. As a result, the company expects to record a restructuring charge of approximately $1.4 million before tax during 2010 in connection with this integration. Including the impact of this one-time non-cash charge, it is anticipated that this transaction will be accretive to earnings in 2010.
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