Bowling Green, Ohio-based Sky Financial Group Inc. has acquired Insurance Buyers’ Service Agency Inc. (IBS) of Boardman, Ohio. IBS is an agency that sells professional liability, personal and commercial insurance. IBS was merged with and into Sky Insurance, Sky Financial’s insurance agency affiliate, effective July 7, 2003.
Under the terms of the agreement between the parties, Sky Financial provided shares of its common stock in exchange for 100 percent of IBS’s outstanding shares. It is anticipated that all employees currently working with IBS will be retained by Sky Insurance and will remain in the Boardman, Ohio office.
IBS President James Lang said Sky is well known in the Youngstown market and will help the agency grow while offering more financial services.
Topics Mergers & Acquisitions Ohio
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