Carr, Riggs & Ingram (CRI) Company Profile

Background

Founded in 1997 through the merger of two respected firms, Carr, Riggs & Ingram (CRI) has evolved into a top 25 nationally ranked accounting and advisory firm. With a mission to cultivate growth through valued relationships, CRI offers a comprehensive suite of services, including traditional accounting, advanced business solutions, technology resources, and assurance offerings. The firm operates across more than 35 markets in 12 states, serving a diverse clientele with a commitment to client service, respect, and integrity.

Key Strategic Focus

CRI's strategic focus encompasses a broad range of services tailored to meet the needs of various industries. The firm's core objectives include delivering audit and assurance, tax planning, business consulting, forensic accounting, IT auditing, retirement plan auditing, SEC compliance, business valuation, and trust and estate services. CRI leverages key technologies and specialized expertise to serve industries such as construction, government, banking and financial institutions, healthcare, insurance, not-for-profit organizations, manufacturing, and distribution.

Financials and Funding

In November 2024, CRI secured a strategic growth investment from Centerbridge Partners and Bessemer Venture Partners. This investment aims to accelerate the firm's growth, evolve service offerings, and increase technology investments to enhance client service. Following this investment, CRI restructured its operations, with Carr, Riggs & Ingram, L.L.C. providing assurance, attest, and audit services, while CRI Advisors, LLC offers tax and business consulting services.

Pipeline Development

CRI has demonstrated a commitment to growth through strategic mergers and acquisitions, expanding its service offerings and geographic reach. Notable developments include:

• January 2025: Merged with CapinCrouse, a firm specializing in nonprofit organizations, adding 40 partners, 185 professionals, and 15 offices to CRI's network.

• March 2023: Expanded into Fort Worth, Texas, through the merger with Biggs & Shipman, LLP.

• February 2023: Entered the Oklahoma market by merging with Tulsa-based Stanfield + O'Dell, P.C.

• September 2021: Expanded operations in North Carolina by merging with Sharrard, McGee & Co., PA, adding offices in High Point and Greensboro.

• January 2021: Increased presence in Alabama through the merger with Russell Thompson Butler & Houston, LLP, serving clients in Mobile and along the Alabama Gulf Coast.

Technological Platform and Innovation

CRI differentiates itself through the integration of advanced technologies and specialized services, including:

• Auditwerx: Provides SOC reporting and IT audits.

• CRI Advanced Analytics: Offers data analytics services.

• CRI Capital Advisors: Delivers investment banking solutions.

• CRI Solutions Group: Focuses on business consulting.

• CRI TPA Services: Specializes in retirement plan administration.

• Level Four Advisory Services: Provides wealth management services.

• Paywerx: Manages payroll services.

• The Preferred Legacy Trust Company: Offers trust and estate services.

These portfolio companies enable CRI to offer a comprehensive range of services, leveraging proprietary technologies and methodologies to meet client needs.

Leadership Team

CRI's leadership team is composed of experienced professionals dedicated to the firm's growth and client service:

• Bill Carr: Chairman and Managing Partner, instrumental in guiding CRI's strategic direction and expansion efforts.

• Fran Brown: Managing Partner of CapinCrouse, joined CRI through the 2025 merger, bringing extensive experience in nonprofit services.

Leadership Changes

In January 2025, CRI underwent a significant leadership change with the merger of CapinCrouse, integrating its leadership team into CRI's structure. This strategic move enhanced CRI's expertise in serving nonprofit organizations and expanded its national presence.

Competitor Profile

Market Insights and Dynamics

The accounting and advisory industry is characterized by a competitive landscape with firms striving to offer comprehensive services and innovative solutions. Market dynamics are influenced by technological advancements, regulatory changes, and evolving client needs.

Competitor Analysis

Key competitors in the accounting and advisory sector include:

• Deloitte: Offers a wide range of professional services, including audit, consulting, tax, and advisory.

• PricewaterhouseCoopers (PwC): Provides assurance, tax, and consulting services with a global presence.

• Ernst & Young (EY): Delivers assurance, tax, consulting, and advisory services worldwide.

• KPMG: Offers audit, tax, and advisory services with a focus on industry-specific solutions.

These firms have established strong market positions through extensive service offerings, technological innovation, and global reach.

Strategic Collaborations and Partnerships

CRI has engaged in strategic collaborations to enhance its service capabilities and market position, including:

• CapinCrouse