Carr, Riggs & Ingram merges in Shinn
Carr, Riggs & Ingram, a Top 100 Firm, has expanded its presence in Florida by adding Shinn & Company, a firm with offices in Bradenton and Sarasota.
CRI, based in Enterprise, Ala., viewed the expansion in Florida as part of its growth strategy. The firm already has 20 other offices in Florida, in locations such as Gainesville, Orlando, Tallahassee and Tampa Bay.
Financial terms of the deal were not disclosed. CRI reported revenues of $286 million in its 2017 annual report, which included organic growth of 9.35 percent and merger growth of 12 percent. Shinn & Company had revenues of approximately $4.5 million. CRI ranked 20th on Accounting Today’s 2017 list of the Top 100 Firms.
“Increasing our footprint in Florida has been a part of our growth strategy for some time,” said CRI chairman and managing partner William H. Carr in a statement. “The Shinn & Company offices in Bradenton and Sarasota coupled with our current Florida offices strategically position our expertise throughout the Gulf Coast making CRI one of the best accounting resources in the state.”
Shinn & Company has been in Florida for more than 20 years. The firm provides accounting and auditing, tax compliance and planning, business consulting, and small business accounting services, focusing on clients in the agricultural, education, governmental, nonprofit, construction, and real estate sectors.
“Our mission has been to provide clients with exemplary accounting and consulting services with integrity, and the efficiencies and expanded services created by this merger with a regional CPA firm will allow us to continue to deliver on this promise,” said managing partner Byron Shinn in a statement.
Allan D. Koltin, CEO of Koltin Consulting Group, advised both CRI and Shinn on the merger. “CRI is one of the fastest-growing first-generation firms in the entire country,” he said in a statement. “Their ability to provide all of the resources that a smaller firm wants and needs, but to do it in a very entrepreneurial and culturally compatible environment is what sets them apart. In that same respect, Shinn & Company is one of Florida's most prestigious and respected CPA firms, and they felt that CRI's leadership, technology platform, depth of resources and innovation were a perfect match for their clients.”
CRI did a number of mergers last year, including two in Atlanta, with AGH LLC and Babush, Neiman, Kornman & Johnson LLP. It also added Rayburn Fitzgerald in the Nashville area, Proctor, Crook, Crowder & Fogal in South Florida, and RPC CPAs + Consultants, LLP in New Mexico and Texas.