Bankers Advertising Acquires Old Fort
Bankers Advertising Company (asi/131650) has expanded its presence in the Midwest with its acquisition of Old Fort Specialty Corp. (asi/287200). Financial terms of the deal were not revealed. “Our ability to offer our leading-edge products and technologies to the Indiana, Ohio and Michigan markets is key to our geographic expansion plan,” says Donald Beussink, president of Bankers Advertising. “This partnership with a respected company aligns nicely with our strategic plan.”
According to Beussink, the deal was in the works for several months. Old Fort will retain its employees, senior leadership and ASI number and will continue to work out of its offices in Fort Wayne, IN. “This alignment fits nicely with our current business model and also allows us to bring many of the marketing and electronic programs underway at Bankers Advertising to our central Indiana customers,” says Dave Sprague, president of Old Fort Specialty Corp.
Bankers, which is based in Iowa City, IA, and has 200 independent sales reps across the U.S., is planning to expand its sales leadership team and add additional sales representatives to further its reach in the Midwest market.