CBIZ Acquires South Florida Property & Casualty Insurance Agency Slaton Insurance

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Jun 06, 2017, 16:15 ET

CLEVELAND, June 6, 2017 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) (the "Company") today announced that it has acquired Slaton Insurance ("Slaton") of West Palm Beach, Fla., effective June 1, 2017.

Founded in 1923, Slaton is one of the oldest independently owned insurance agencies in South Florida. With a specialty in golf and country clubs, Slaton provides property and casualty and personal lines insurance to clients in various industries in and around Florida's North Palm Beach County. Slaton has 14 employees and recorded $2.6 million in revenue in 2016.

John "Cal" Boynton, president, and Casey Cunniff, managing partner of Slaton said, "Joining CBIZ gives us the opportunity to continue to provide our clients with the service they have come to know and trust. Our clients will further benefit by having access to the full suite of CBIZ's offerings including risk management, payroll and financial services. Additionally, CBIZ's culture closely aligns with that of Slaton, making this a seamless transition for our employees and clients alike."

Jerry Grisko, president and CEO of CBIZ, said, "The addition of Slaton will enhance our South Florida operations and complement our Delray Beach office by expanding our expertise in North Palm Beach county. Cal, Casey, and team are highly respected in the South Florida business community as well as the Florida insurance community. We look forward to working with the entire Slaton team."

CBIZ, Inc. provides professional business services that help clients better manage their finances, employees, and insurance needs. CBIZ provides its clients with financial services including accounting, tax, financial advisory, government healthcare consulting, risk and advisory, and valuation services. Benefits and insurance services include group health benefits consulting, property and casualty insurance, retirement plan consulting, payroll, and HR consulting. As one of the largest accounting, insurance brokerage, and valuation companies in the United States, the Company's services are provided through more than 100 Company offices in 33 states.

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, the Company's ability to adequately manage and sustain its growth; the Company's dependence on the current trend of outsourcing business services; the Company's dependence on the services of its CEO and other key employees; competitive pricing pressures; general business and economic conditions; and changes in governmental regulation and tax laws affecting the Company's insurance business or its business services operations. A more detailed description of such risks and uncertainties may be found in the Company's filings with the Securities and Exchange Commission.

For further information regarding CBIZ, call our Investor Relations Office at (216) 447-9000 or visit our web site at www.cbiz.com.

(NYSE: CBZ | www.cbiz.com | Twitter @cbz)

SOURCE CBIZ, Inc.