CBIZ, Inc. announced that it has acquired The Savitz Organization effective April 1, 2016.

Founded in 1968, Savitz is headquartered in Philadelphia, PA, with offices in Atlanta, GA, and Newton, MA.  Savitz is an employee retirement and health and welfare benefits firm that provides actuarial, consulting and administration outsourcing services.  Savitz has 110 employees and recorded approximately $20.0 million in revenue during 2015.

Commenting on joining CBIZ, Ed Bishop, Managing Principal of Savitz, stated, "We are very excited to join CBIZ, an organization that shares our commitment to client service and employee growth.  As part of CBIZ, we will be able to better serve our clients by offering a wider array of services and more depth to support their business needs.  Our staff will also benefit from the expanded growth opportunities of a national organization."

Jerry Grisko, President and CEO of CBIZ stated, "Savitz has an excellent reputation in the industry and we look forward to working with Ed and his team.  This acquisition will enable us to further expand our credentialed actuarial team and expertise, particularly within the municipal and Taft-Hartley markets.  The addition of Savitz along with several recently completed actuarial acquisitions positions CBIZ as a leading benefits outsourcing provider that can serve virtually every need of a domestic pension plan sponsor."

"We are pleased to be able to close this acquisition early in the second quarter and remain confident in the 2016 guidance we provided in February of revenue growth within a range of 6% to 8%, diluted earnings per share growth of 9% to 12% and adjusted EBITDA of $93.0 million to $95.0 million," concluded Grisko.