Carr, Riggs & Ingram, a Top 100 Firm that has mostly operated in the Southeast, is expanding to New Mexico and Texas by merging in RPC CPAs + Consultants, LLP, New Mexico’s largest CPA firm.
The merger will add eight locations in New Mexico and Texas to CRI, along with 12 partners and approximately 50 staff members. CRI has approximately 190 partners and around 1,300 staff members. RPC has offices in Alamagordo, Albuquerque, Carlsbad, Clovis, Hobbs and Roswell, N.M., along with El Paso and Lubbock, Texas.
Financial terms of the deal were not disclosed, but RPC had annual revenue of approximately $15.5 million, while CRI’s annual revenue is about $285 million. CRI, based in Enterprise, Ala., ranked 20th on Accounting Today’s 2017 list of the Top 100 Firms.
CRI plans to use its patent-pending CRI vSTAR process to conduct virtual audits of clients from its new offices. “CRI has invested in creating a proprietary process to deliver virtual audit engagements while seamlessly working with our clients — regardless of geographical location,” said CRI chairman and managing partner Bill Carr in a statement. “With that said, we believe that client service delivered by local partners with face-to-face interaction and communication will always be a tenet of our philosophy. Therefore, CRI will continue to invest in opportunity markets, such as RPC’s locations in New Mexico and West Texas, that align with our niches and geographic growth strategy.”
CRI has done several other M&A deals this year, including two in Atlanta, with AGH LLC and Babush, Neiman, Kornman & Johnson LLP. It also added Rayburn Fitzgerald in the Nashville area, and Proctor, Crook, Crowder & Fogal in South Florida this year.
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