West Virginia Investor Group Acquires Charles Ryan Associates
CHARLESTON, W.Va., Oct. 1 / -- A West Virginia investment group led by Henry Harmon, President and CEO of Triana Energy, today announced it has purchased Charles Ryan Associates, the state's largest and oldest public relations/advertising firm.
According to Harmon, the final signing and closing of the transactions were completed over the weekend, and became effective Sunday, September 30. Additional terms of the transaction were not disclosed. Harmon will assume the role of Chairman and CEO of CRA.
"We have been interested in acquiring a communications company for some time and are extremely pleased we could acquire the best. As investors, our primary aim is to seek out premium opportunities that will help grow the economy in Charleston and the rest of the state. Charlie Ryan has built a communications powerhouse that is the most creative and innovative firm in the West Virginia market and has extended its service area to much of the Mid-Atlantic region. Charlie will join the new CRA Board of Directors as Vice-Chairman and will continue to assist with strategic decisions," Harmon said.
Harmon called the purchase a strategic acquisition designed to grow CRA in the Mid-Atlantic region. "Our interest in acquiring CRA is rooted in its durability and brand reputation as a leader in its sector. Our intention is to continue investing in CRA as an independent enterprise and grow its reach and influence in the business community across the region," Harmon said.
CRA Chairman and CEO Charles Ryan called the acquisition a perfect match. "Henry Harmon's vision and his dedication to West Virginia were key ingredients in our decision to sell," Ryan said. "The opportunity to see CRA continue as a West Virginia owned and operated firm is significant for our employees and the company as a whole. Henry's desire is to make a difference in our state and I am extremely excited to be a part of that," Ryan said.
CRA was founded in 1974 by then television news director Charles Ryan and over its 33-year history has developed a national reputation for its work across the communications spectrum. The Charleston-based firm also has an office in Richmond, Virginia and the company employs 50 people.
Source: Charles Ryan Associates
CONTACT:Henry Harmon of Charles Ryan Associates, +1-304-552-3279
