CRI Secures Strategic Growth Investment from Centerbridge Partners

"Centerbridge and Bessemer recognize the value that CRI has already built and see the potential for where the company can go," stated CRI Chairman Bill Carr. "We are thrilled to gain partners whose vision aligns with ours. We believe this strategic investment will greatly benefit our talented team members and certainly our valued clients as well. We'll be able to invest more into our staff, create new opportunities, and continue doing what we've always done, which is delivering exceptional results to our clients."

​Bill Carr, Chairman, CRI

“We believe strongly in the value proposition created by CRI’s unique blend of ‘local firm’ culture and client service with ‘big firm’ capabilities, and the benefits to CRI’s clients and professionals of its deep roots across smaller, mid-sized, and metro markets in the Southeastern and Southern U.S.A.,” said Dan Osnoss, Centerbridge Senior Managing Director. “We look forward to supporting the partners of CRI as they continue to build on their innovative history of organic growth and mergers to expand talent, capabilities, and geographic reach.”

Dan Osnoss, Centerbridge Senior Managing Director

“Over the next decade, the accounting industry is going to be transformed by technology,” said Brian Feinstein, partner at Bessemer Venture Partners. “CRI is one of the most innovative accounting firms in the industry, and we are excited to work with the CRI team to take advantage of innovations in software and AI.” 

Brian Feinstein, Partner, Bessemer Venture Partners

“This combination is truly groundbreaking—CRI is the accounting profession’s ‘feel good’ story of the century,” commented Allan D. Koltin, CEO of Koltin Consulting Group, LLC, who consulted with CRI during the investment research and transaction process. “CRI is the only top 25 firm in the country to grow from a start-up to $500 million in a little over 25 years, making it the country’s fastest-growing first-generation firm. From its humble beginnings in Enterprise, Alabama, and Destin, Florida, CRI has become the youngest top 100 firm ever to receive a private equity investment as a foundation firm.” Koltin continued to say, “Many private equity firms courted them during this process, but they chose Centerbridge and Bessemer for their similar values and shared vision of what CRI can become at the national level. There is no question in my mind that CRI will grow substantially over the next years while maintaining the ‘family feel’ culture they have had since day one.”

Allan D. Koltin, CEO, Koltin Consulting Group, LLC