CRI merges in BNKJ
Carr, Riggs & Ingram has expanded its Atlanta presence by merging in Babush, Neiman, Kornman & Johnson LLP, making it one of the 15 biggest firms in the city.
CRI chairman and managing partner William H. Carr noted that the merger was the firm’s third expansion in Atlanta in the past five years. “We are proud of the investments and advancements that our firm is—and will continue—making in this thriving city,” he said in a statement.
CRI, based in Enterprise, Alabama, ranked 21st on Accounting Today’s 2016 list of the Top 100 Firms, with $195.14 million in annual revenue. Financial terms of the deal were not disclosed.
“This merger furthers CRI’s strategic goal of being a major powerhouse in the Atlanta market and the Southeast—where we can expect the firm to continue expanding through organic growth, additional mergers, and high-level strategic hires,” said Koltin Consulting Group CEO Allan D. Koltin, who advised both firms on the merger, in a statement. “More than a dozen firms—national, regional, and local—have approached BNKJ due to its client base and reputation in the market, but the BNKJ team felt that CRI provided the best culture fit and the best launching pad for their young talent and the greatest array of services for their clients.”
BNKJ will be moving into CRI’s existing offices in Atlanta. The deal will also expand CRI’s employee benefit plan audit practice. CRI and BNKJ together audit more than 450 benefit plans each year. The combined firm also plans to offer services such as IT audits and assurance, investment banking and service organization control reporting.
CRI has been doing a series of mergers in recent months. Last month, the super-regional firm added Proctor, Crook, Chowder & Fogal in Florida (see Carr, Riggs & Ingram merges in South Florida firm). In January, it added Rayburn Fitzgerald in Nashville (see Carr, Riggs & Ingram merges in Rayburn Fitzgerald). Last November, it added Vogel CPAs in Dallas (see CRI expands into Dallas).