CBIZ Inc. (NYSE: CBZ) has purchased private equity consulting agency CMF Associates for an undisclosed amount.

Founded in 2001, CMF Associates offers financial, operational and human capital consulting to private equity firms and their portfolio companies. The agency has served as a resource to more than 135 PE funds across more than 500 companies, providing: transaction advisory, financial planning, and executive search services. In 2016, CMF Associates reported $19.2 million in revenue. The target is based in Philadelphia.

“CMF sought a committed partner who shared our growth-oriented vision of scaling our position as a premier service provider to private equity and their expanding portfolio,” states CMF founder Thomas Bonney.

CBIZ is a professional services company headquartered in Cleveland. The buyer provides professional business and financial consulting services. CBIZ has more than 100 offices in across the United States.

Recent acquisitions in the financial services sector include: B. Riley Financial Inc. (Nasdaq: RILY) agreeing to purchase FBR & Co. (Nasdaq: FBRC), an investment banking and brokerage firm, for approximately $160.1 million; Genstar Capital-backed Mercer Advisors Inc. acquiring investment advisory firm Duckworth Wealth Advisors Inc.; Lucia Capital Group’s investment in West Coast Asset Management; Aon Risk Solutions’, the risk management arm of brokerage firm Aon Plc (NYSE: AON), purchasing Stroz Friedberg Inc. for an undisclosed amount; and Bain Capital Credit’s forming Bain Capital Specialty Finance Inc. as a business development company to make direct loans.

Business services Financial services industry M&A Strategic buyers CBIZ