Carroll D. Hurst, CPA


Carroll Hurst is a founding partner of Keiter and a Director of Keiter Stephens Advisors. For more than 35 years, Carroll has applied his knowledge and expertise to provide audit, tax, and consulting services to privately-owned business organizations, estates, trusts, and foundations.

Carroll works in the following service areas:
• Mergers and acquisitions
• Strategic planning, business succession and estate planning
• Structuring equity and debt financings
• Troubled debt restructuring
• Employee benefits and executive compensation, including consulting concerning various stock and cash incentive plans

Carroll represents numerous closely-held businesses in the foodservice distribution, manufacturing, healthcare, construction, retail, wholesale, and service industries, as well as private equity and venture capital funds. Many of these businesses are second and third generation family owned and operated businesses.

Carroll leads the Firm’s Mergers and Acquisitions team. His services in the mergers and acquisitions area include valuation, interaction with investment banking firms and law firms during all stages of negotiations, structuring transactions, tax planning and modeling of after-tax cash flows from various transaction structures, due diligence assistance, and negotiation of various terms of the transaction. Carroll also regularly creates opportunities for clients with advice on debt and equity capital raising instruments. These services include valuation assistance in the structuring of the entity and the terms of the debt or equity, the review of legal agreements related to these transactions, and negotiations of transaction terms on behalf of clients.

Carroll is actively involved in Lighthouse Labs, which guides startup companies through the early stages of their business. He serves as a mentor for certain businesses in the program as well as a judge for the Lighthouse Labs accelerator competition.

Carroll is a strong supporter of the Richmond Ballet serving as a board member, and past president and treasurer. In addition, he serves on the boards of Richmond Unite and Association for Corporate Growth where he was past president. He is a past treasurer for William Byrd Community House.

Professional Activities and Civic Associations

  • American Institute of Certified Public Accountants
  • Virginia Society of Certified Public Accountants
  • Lighthouse Labs
  • Association for Corporate Growth, Richmond Chapter Past President
  • Commonwealth of Virginia Venture Capital Roundtable
  • Business Finance & Turnaround Association
  • William Byrd Community House, Past Treasurer
  • Richmond Ballet, Board member, Past President and Treasurer
  • Richmond Unite, Board member
  • Henrico County Industrial Development Authority Business Retention Committee


Bachelor of Science in Accounting, summa cum laude, University of Richmond

Speaking Engagements

  • “The Corporate Counselor as Team Player: A CLO, CFO and CPA Roundtable on Sharing Professional Responsibilities and Risk” – 42nd Annual Advanced Business Law Conference, October 12, 2012
  • “Succession Planning and Exit Strategies Panel.” – Carrell Blanton, November 2 and 16, 2012
  • “Future Tax Rate Increases.” –Virginia Council of CEOs, Fall 2012
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