Pevita Pearce
Top 25 accounting firm Carr, Riggs & Ingram (CRI) has announced its strategic acquisition of Tuscaloosa, Alabama-based public accounting firm Morrison & Smith, significantly bolstering CRI’s presence in its home state and expanding its service capabilities in the burgeoning West Alabama market. The deal, finalized and effective immediately, marks CRI’s fifth strategic integration in 2026, underscoring its aggressive growth trajectory and commitment to expanding its national network.
The financial terms of the transaction were not disclosed. However, the integration will see the entire Morrison & Smith team, including its leadership partners Barry Burns, Alan Hartley, and Daniel Sutter, continue to serve clients from their established Tuscaloosa office. This office will now operate under the Carr, Riggs & Ingram brand, signaling a seamless transition for clients and a unified operational structure. This move is particularly significant as Tuscaloosa represents a key growth market for CRI, and the addition of Morrison & Smith’s seasoned professionals provides CRI with immediate local expertise and a strong client base.
A Strategic Expansion in Alabama
CRI, headquartered in Enterprise, Alabama, has demonstrated a consistent pattern of strategic mergers and acquisitions, particularly since securing private equity investment from Centerbridge Partners and Bessemer Venture Partners in late 2024. This investment has fueled a period of accelerated expansion, with CRI completing more than a dozen transactions since the partnership was formed. The acquisition of Morrison & Smith is a direct manifestation of this strategy, reinforcing CRI’s commitment to organic growth and market penetration within its home region.
The addition of Morrison & Smith is not an isolated event in CRI’s 2026 acquisition spree. The firm has also recently integrated DMR CPAs in Fort Worth, Texas; Trace Advisory in Ridgeland, Mississippi; Crowl, Cameron & Associates in Conroe, Texas; and CFO Hub in San Diego. This diversified acquisition strategy highlights CRI’s ambition to not only strengthen its presence in existing markets but also to enter new, strategically important regions with established and reputable firms.
Enhanced Service Offerings for Clients
For the clients of Morrison & Smith, this integration promises a substantial enhancement of their service offerings. They will gain immediate access to CRI’s comprehensive suite of expanded tax, assurance, and advisory services. Beyond the core accounting functions, this includes specialized teams and additional resources in areas such as wealth management, cutting-edge data analytics, strategic business consulting, and fractional CFO services. This expanded capability set is designed to provide clients with a more holistic and sophisticated approach to financial management and business growth, positioning them for greater success in an increasingly complex economic landscape.
Morrison & Smith: A Legacy of Trust and Service
Founded in 1951, Morrison & Smith boasts a rich history as one of Tuscaloosa’s longest-standing and most respected accounting firms. For over seven decades, the firm has cultivated a reputation for integrity, personalized service, and deep expertise across a range of accounting and advisory disciplines. Their service portfolio has traditionally included comprehensive audit, review, and compilation services, alongside meticulous tax planning and preparation, robust accounting solutions, and tailored business advisory services catering to both individuals and organizations.
The firm’s established client base is a testament to its enduring success, encompassing key sectors vital to the Tuscaloosa economy. This includes significant engagement with real estate developers, financial institutions such as banks, healthcare providers, and the construction industry. The deep relationships and industry-specific knowledge developed by Morrison & Smith over its extensive history are expected to be invaluable assets to the combined entity.
Leadership Perspectives on the Integration
Bill Carr, Chairman and Founding Partner at Carr, Riggs & Ingram, expressed his enthusiasm for the acquisition, emphasizing the shared values and strategic fit between the two firms. "Morrison & Smith has spent over 70 years building trust with clients throughout West Alabama," Carr stated. "Their reputation for integrity and personal service is exactly what we value in a firm. Tuscaloosa is an important new market for us, and Barry Burns, Alan Hartley, and Daniel Sutter bring us a strong local team to grow with. We are proud to welcome them to CRI." This statement highlights CRI’s strategic focus on cultural alignment and its appreciation for firms that prioritize client relationships.
Allan Koltin, CEO of Koltin Consulting Group, a firm that advised both Carr, Riggs & Ingram and Morrison & Smith on this combination, lauded CRI’s systematic approach to mergers and acquisitions. "Carr, Riggs & Ingram continues to write the book on how to select great firms and successfully integrate them," Koltin remarked. "They have now completed more than 100 M&A transactions, and I have yet to hear of one that went badly. CRI screens upfront for cultural and strategic fit as well as any firm I have seen in the country. Morrison & Smith will be a great addition to CRI. Beyond Tuscaloosa being a fantastic market, the firm has outstanding partners and associates and an excellent client base." Koltin’s endorsement underscores CRI’s proven track record in successful integrations and its meticulous due diligence process.
Broader Implications and Future Outlook
The acquisition of Morrison & Smith by Carr, Riggs & Ingram is more than just a geographical expansion; it represents a strategic enhancement of CRI’s service capabilities and market reach. By absorbing a firm with such a long-standing presence and strong client relationships in Tuscaloosa, CRI is well-positioned to capture a significant share of the West Alabama market. The infusion of Morrison & Smith’s expertise into CRI’s broader network creates a more robust and diversified service offering, benefiting clients of both legacy firms.
CRI’s consistent acquisition strategy, fueled by private equity backing, indicates a clear vision for becoming a dominant player in the accounting and advisory services sector. The firm’s ability to integrate acquired entities smoothly, as highlighted by Koltin, is a critical factor in its sustained growth. As CRI continues to expand its national footprint, its focus on both market penetration and the enhancement of specialized services, such as data analytics and fractional CFO services, positions it to meet the evolving needs of businesses across various industries.
The integration of Morrison & Smith is expected to create synergistic benefits, including cross-selling opportunities and the sharing of best practices. For the employees of both firms, this merger offers opportunities for professional development, access to a wider range of clients and projects, and the chance to be part of a larger, dynamic organization. The continued success of CRI’s M&A strategy will likely be closely watched by industry observers as a benchmark for growth and integration in the accounting profession. The acquisition of a firm with over 70 years of history in Tuscaloosa signifies a long-term commitment to the region and a strategic move to leverage established local talent and client loyalty.
Timeline of Recent Acquisitions by Carr, Riggs & Ingram (2026)
- Morrison & Smith, Tuscaloosa, AL: Expansion of Alabama presence and service capabilities in West Alabama.
- DMR CPAs, Fort Worth, TX: Strengthening presence in the Texas market.
- Trace Advisory, Ridgeland, MS: Enhancing service offerings and market share in Mississippi.
- Crowl, Cameron & Associates, Conroe, TX: Further solidifying its position in the Texas market.
- CFO Hub, San Diego, CA: Expanding advisory services and national reach into California.
This series of acquisitions in 2026 demonstrates CRI’s accelerated pace of expansion and its strategic intent to broaden its geographical and service reach across key markets.
Conclusion
The acquisition of Morrison & Smith by Carr, Riggs & Ingram represents a significant development in the accounting industry, particularly within Alabama. It underscores CRI’s ambitious growth strategy, its successful integration model, and its commitment to providing enhanced value to clients. As CRI continues to execute its expansion plans, its focus on combining established local expertise with a national network of specialized services positions it as a formidable force in the accounting and advisory landscape. The integration of Morrison & Smith is a clear indicator of CRI’s continued commitment to organic growth and strategic consolidation in key markets.
