M&A roundup: CRI and EisnerAmper expand

Details: Carr, Riggs & Ingram, a Top 20 Firm based in Enterprise, Alabama, has expanded its presence in its home state by merging in Crabtree, Rowe & Berger, P.C., a firm based in Huntsville.

Crabtree, Rowe & Berger was named to Inc. 5000’s list of America’s Fastest Growing Companies in 2019 and provides accounting and advisory services, including a consulting and financial modeling practice called Simple Numbers, targeting manufacturing and distribution companies.

“Expanding our footprint into northern Alabama is a vital part of our strategic plan,” said CRI chairman and managing partner William H. Carr in a statement. “The Crabtree, Rowe & Berger offices in Huntsville, along with our other Alabama locations, help leverage the strength of our combined teams and resources to enhance our client service delivery and technical expertise. We are excited about positioning CRI into this dynamic growth market."

Financial terms of the deal were not disclosed. CRI ranked 20th on Accounting Today’s 2019 list of the Top 100 Firms, with $305.97 million in annual revenue.

Koltin Consulting Group CEO Allan D. Koltin advised both firms on the deal, “This merger is tremendous for CRI given the incredible growth that the Huntsville market is experiencing,” he said in a statement. “Though Crabtree, Rowe & Berger is based in Huntsville, they have gained a national reputation for their extraordinary consulting and advisory practice. These two firms will experience impressive success from their combined offerings.”

Last July, CRI expanded its presence in Mississippi by merging in Wm. F. Horne & Company.

Details: EisnerAmper, a Top 20 Firm based in New York, has expanded in New Jersey by adding the leaders and staff members of Horvath & Giacin, P.C., effective Jan. 16.

John Horvath, president and a founding member of Horvath & Giacin, is joining EisnerAmper as a partner. He founded the firm in 1989. The Pennington, New Jersey-based firm provides tax, accounting, assurance, business advisory and consulting services to clients in more than 10 countries. Horvath and his 22 staff members will join EisnerAmper’s staff of approximately 1,750 people and 200 partners. Financial terms of the deal were not disclosed. EisnerAmper ranked 18th on Accounting Today’s 2019 list of the Top 100 Firms, with $360.7 million in annual revenue.

“What really impresses us about Horvath & Giacin is their relationship-driven approach,” said Jay Weinstein, EisnerAmper’s managing partner of markets and industries and partner-in-charge of the firm’s New Jersey office, in a statement. “John Horvath and his team genuinely feel that each of their clients — irrespective of their size, location or industry — should receive stellar service,”

“We’ve admired the ‘EisnerAmper way’ for a long time,” Horvath said in a statement. “And we’re thrilled to now be able to leverage its robust technology, advisory service offerings, talent, client initiatives, educational resources and more to enhance our client service.”

Last September, EisnerAmper expanded in its home state of New York by acquiring Imowitz Koenig & Co. Last June, EisnerAmper also merged in CSAM Marketing Inc., a managed IT security services firm with offices in New York and New Jersey.