Ibis Tek, the Butler-based company whose former co-owners are embroiled in a federal fraud case, this week announced new ownership and assured clients that the company remains “fully operational.”

In a news release Monday, Vince Nardy, the company’s president and CEO, said Ibis Tek had been purchased by a group of independent investors in February and is not the subject of any disciplinary action.

Nardy also noted that multiple federal investigations into allegations of fraud against John P. Buckner and Thomas G. Buckner determined no administrative or legal action against the company was warranted.

“These indictments are directed solely to the former owners ... and do not reflect on the company’s compliance policies and practices today,” Nardy said.

The Buckner brothers, who had been co-owners of the company, resigned effective Jan. 1, Nardy said, and Ibis Tek is finalizing the formation of a board of directors comprised of industry experts and retired U.S. Army Lt. Gen. Joseph Yakovac.

Ibis Tek manufactures products and accessories for the defense industry and government agencies. There is a site near Saxonburg.