Ohio-based professional business services provider CBIZ has acquired all of the assets of InR Advisory Services, a Pennsylvania-based investment advisory firm, for an undisclosed sum.
InR focuses on serving public and private sector clients as well as non-profit organisations. The firm generated revenue of around $3.5m last year.
CBIZ offers a range of financial services such as accounting, tax, financial advisory, government healthcare consulting, risk advisory, and valuation services.
Commenting on the deal, CBIZ president and CEO Jerry Grisko said: “The acquisition of InR deepens our investment management expertise and specifically taps into the municipal pension and 457 marketplace. InR’s reputation of integrity and outstanding client service makes them an ideal partner for CBIZ, and we look forward to working with the entire InR team.”
InR president Michael Glackin added: “It was very important for us to partner with a leading national company like CBIZ that shares our same commitment to our employees and clients. We can now bring additional services and resources to our clients while continuing to expand our presence in Pennsylvania and beyond.”