Capes Shipping Agencies bought Ryan Ship Services
May 4, 2022
Capes Shipping Agencies, a Norfolk-based subsidiary of CV International Inc., announced Wednesday that it has acquired Savannah, Georgia-based Ryan Ship Services LLC.
Financial terms of the transaction were not disclosed.
“This merger will be a perfect fit for both of our companies, and the timing was perfect,” CVI President and CEO Mike Coleman said in a statement. “We have had a close working relationship with Ryan over the years and we share many of the same clients. … This will extend our own agency’s coverage further south.
Ryan Ship Services is an independent shipping agency and freight forwarder. Drew Ryan founded Ryan Ship Services in 1999. Gene Meredith later joined Ryan as a partner. They will manage all operations at a new Capes branch in Savannah. Capes will expand the Savannah team to support agency operations, documentation and customs brokerage services.
Ryan said in a statement, “It was exactly what we needed, and the timing was perfect. We’ve seen a lot of growth in our business over the past two years, and Capes will provide the scale we need to keep pace.
Founded in 1958, Capes Shipping Agencies provides shipping agency and freight forwarding services in the United States. The company offers port agency solutions along the East and Gulf coasts.