CRI announces merger with Davis Monk

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Posted by AccountingWEB in Community News on 02/02/2010 - 16:23

Second merger for CRI this year
CRI says no reduction in force or office closings
Davis Monk to operate under CRI name

Carr, Riggs & Ingram LLC (CRI), an Enterprise, AL-based accounting and consulting firm, yesterday announced a merger with Davis, Monk & Co. (Davis Monk), a Gainesville, FL-based accounting firm.

“The bottom line is that we offer additional capabilities and resources as a single firm and we’re able to better serve clients across the southeast [because of the merger],” Bri Brown, CRI brand manager, told AccountingWEB.com.

As a practicing unit of its new parent company, Davis Monk will operate under the CRI name, according to Brown, who added that the firm has no plans to cut employees or shutter any offices. “For CRI, it is a growth opportunity,” she said. Additional terms of the deal finalized last month were not disclosed.

Future client assignments will be based on geography and specialization of service and industry, Brown said. Davis Monk’s focus has been on government agencies, not-for-profit organizations, and biotechnology firms. CRI serves more than 15 industries, including government services, construction and health care.

“This practice unit, coupled with our six existing Florida practices, will strategically position our expertise throughout the northern and central areas of the state making us one of the best accounting resources in the state,” William H. Carr, CRI’s chairman and managing partner, said in a prepared statement.

“Additionally, the Davis, Monk & Co. team offers an acute depth of expertise in governmental services, almost doubling our already significant practice, which now positions our firm as one of the leading providers of accounting services to the governmental sector,” Carr said.

Davis Monk’s Florida office locations in Gainesville, Palatka, and St. Augustine increase CRI’s employee count to more than 600 professionals, including more than 110 partners, according to the company.

“Our team will continue to provide the unparalleled client service and expertise for which we have become recognized,” Harold Monk, managing partner of Davis, Monk & Co., said in a news release. “We are now simply backed by the knowledge and experience provided by 550 dedicated accounting professionals that comprise one of the region’s largest accounting firms.”

CRI’s merger with Davis Monk follows on the heels of its merger last month with New Orleans-based CPA firm Roth Murphy Sanford LLP. Its specialty areas include oil and gas taxation, high net worth tax planning, and work on behalf of construction and manufacturing companies, closely-held family businesses with multi-state operations, professional service firms, financial institutions, and not-for-profit organizations.

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