Enterprise, Ala.-based Carr, Riggs & Ingram (CRI) (FY12 net revenue of $111.3 million) has merged with Gainer Donnelly of Houston (FY12 net revenue of $19.4 million), adding the nation’s fourth largest city to CRI’s footprint.
“CRI extends a warm welcome to the Gainer Donnelly team, and we are excited to add their impressive depth of industry expertise to ours in areas including construction, health care, manufacturing and not-for-profits as we now work together in the Houston area,” says William H. Carr, chairman and MP of CRI. “This merger delivers an integral component to CRI’s overall strategy as we expand our presence in Texas.”
Though Gainer Donnelly had been approached by many larger firms, CRI was the right fit, providing additional expertise for their clients and growth opportunities for their clients, says Allan D. Koltin, CEO of Koltin Consulting Group, who advised both firms on the merger. “CRI has one of the best track records in the industry for successfully selecting merger candidates as well as the follow-up integration.”
Koltin says that he wouldn’t be surprised to see CRI become a $50 million to $75 million firm in Texas over the next five years. “CRI’s first entry into Texas was in Austin a couple years ago via the merger of Cooper Grassi and that merger has gone extremely well for both firms,” he says. CRI also has an office in Georgetown, north of Austin.
George Hawkins, MP at Gainer Donnelly, will continue to oversee local operations as PIC. The firm, which gains 140 employees, will operate as CRI.