Significant investment will support accelerated growth and innovation for leading benefits, insurance, retirement, and human capital advisory business
As part of the transition, the company will operate under the name CBIZ Benefits & Insurance Services on an interim basis and will introduce a new name in the coming months
KANSAS CITY, MO and CLEVELAND, OH, Nov. 2, 2026 — CBIZ Benefits & Insurance Services today launched as a standalone company, backed by New Mountain Capital, a leading growth-oriented investment firm with over $60 billion in assets under management. The company operates independently of CBIZ, Inc. and Grant Thornton Advisors LLC.
With more than 1,600 professionals and annual revenue that has grown nearly 40% since 2020 to more than $400 million, CBIZ Benefits & Insurance Services has a multi-decade track record as a trusted partner known for deep client relationships and breadth of expertise, to employers with complex benefits, insurance, and workforce needs.
“This is a defining moment for our organization. We are launching an independent company with a strong foundation, a talented team, and a clear vision for the future,” said Michael Kouzelos, Chief Executive Officer, CBIZ Benefits & Insurance Services. “Our clients face increasingly complex decisions around benefits, risk, retirement, talent, and workforce strategy. As a standalone firm, we are uniquely positioned to expand our capabilities and enhance the support we provide to clients as they navigate those challenges. Backed by New Mountain Capital and powered by the dedication of our people, we are exceptionally well-positioned to drive growth, expand our capabilities, and continue building on the trust our clients place in us every day.”
CBIZ Benefits & Insurance Services enters this new chapter as a Top 30 Broker in the U.S., supporting employers nationwide with high-quality service delivered by local teams across nearly 40 markets. As an independent company, the firm will continue to serve employers with employee benefits consulting, human capital advisory solutions, property & casualty insurance, retirement and investment solutions, and individual insurance, with client-facing teams, carrier relationships, service contacts, and day-to-day operations remaining unchanged.
“For more than four decades, we’ve built lasting client relationships through exceptional service, personal attention and a level of care that sets us apart in our industry,” said Polly Thomas, Chief Operating Officer, CBIZ Benefits & Insurance Services. “In this next chapter, our commitment to our clients will not change. We will continue to advise employers across benefits, payroll, retirement and risk with innovative, tailored solutions designed to best serve and grow their business.”
“We’re thrilled to partner with the CBIZ Benefits & Insurance Services team as the company sets out on this exciting new chapter as an independent company,” added Bob Mulcare and Sean Donovan, Managing Directors at New Mountain Capital. “Our investment is focused on building upon the company’s incredibly strong foundation and enabling the business to make increased investment in talent, technology, and capabilities to best serve the needs of customers and drive accelerated growth in the years ahead.”
About CBIZ Benefits & Insurance Services
CBIZ Benefits & Insurance Services is an independent professional services firm serving middle-market organizations nationwide. The company provides employee benefits consulting, human capital advisory solutions, property & casualty insurance, retirement and investment solutions, and individual insurance through a team of more than 1,600 professionals. The company is focused on helping clients manage workforce risk and build total rewards strategies that attract and retain talent.
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with over $60 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, please visit www.newmountaincapital.com.
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“CBIZ” is the brand name under which CBIZ CPAs P.C. and CBIZ, Inc. and its subsidiaries, including CBIZ Advisors, LLC, provide professional services. CBIZ CPAs P.C. and CBIZ, Inc. (and its subsidiaries) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. CBIZ CPAs P.C. is a licensed independent CPA firm that provides attest services to its clients. CBIZ, Inc. and its subsidiary entities provide tax, advisory, and consulting services to their clients. CBIZ, Inc. and its subsidiary entities are not licensed CPA firms and, therefore, cannot provide attest services.
“Grant Thornton” refers to the brand name under which the Grant Thornton member firms provide services to their clients and/or refers to one or more member firms, as the context requires.
Grant Thornton International Limited (GTIL) and the member firms, including Grant Thornton LLP and Grant Thornton Advisors LLC, which operate as the US member firm, are not a worldwide partnership. GTIL and each member firm are separate legal entities. Services are delivered by the member firms, GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions.
