Top 25 accounting firm Carr, Riggs & Ingram said on June 3 it’s expanding into East Texas by merging with Axley & Rode, a Lufkin, TX-based CPA firm.
Financial terms of the deal weren’t disclosed. Axley & Rode’s 10 partners and current staff will join CRI once the transaction closes.
“Texas has always been a crucial part of CRI’s growth strategy,” CRI Chairman Bill Carr said in a statement. “With Axley & Rode now on board, we have established our presence in the East Texas market, which is new territory for us. Axley & Rode has deep roots in East Texas and ties to their communities, similar to many of our CRI locations. Their emphasis on client service, relationship-oriented offerings, and cultivating beneficial partnerships for all parties aligns with CRI’s founding principles and the culture we’ve cultivated and strive to maintain.”
This is Enterprise, AL-based CRI’s second merger transaction since it received private equity funding from investment management firm Centerbridge Partners and venture capital firm Bessemer Venture Partners in November 2024. CRI combined with Indianapolis-based top 200 CPA firm CapinCrouse earlier this year.
Related article: CRI Goes Down the Private Equity Path For Growth
Related article: CRI Joins Forces With Top 200 Firm CapinCrouse
Founded in 1949 in Lufkin, Axley & Rode expanded its operations to include foffices in Jasper, Livingston, and Nacogdoches, TX. The firm serves East Texas businesses, governmental entities, nonprofit organizations, entrepreneurs, and individuals in various industries across the U.S. and other countries by providing a range of accounting, tax, audit, and consulting services.
Axley & Rode is ranked among the top 350 accounting firms by revenue in the U.S., pulling in $13.2 million during its most recent fiscal year, according to INSIDE Public Accounting.
“A&R and CRI share common cultures and client service philosophies, making this partnership an excellent fit for all. We look forward to expanding service availability to our clients, providing additional opportunities for our team, and supporting our community,” Axley & Rode said in a post on LinkedIn earlier this week. “This merger will be a seamless transition, and you will continue to receive the same exemplary service from the same professionals you trust.”
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