Titan Machinery Closes on Acquisition of Carlson Tractor and Equipment
WEST FARGO, N.D., May 16, 2011 (BUSINESS WIRE) — Titan Machinery Inc. (NASDAQ:TITN) announced today that it has closed on the acquisition of Carlson Tractor and Equipment. The acquisition consists of two construction locations in the Minneapolis suburbs of Rosemount and Rogers, Minnesota.
Carlson Tractor and Equipment provides heavy, medium, and light construction equipment, heavy duty land clearing equipment, wood and waste processing equipment, and aggregate processing equipment. The brands include New Holland Construction, Kobelco, Kawasaki heavy construction, Peterson Pacific grinders and chippers, Seppi, and Barko land clearing equipment, and several lines of crushing and screening equipment. In its most recently reported fiscal year ended November 30, 2010, Carlson Tractor and Equipment generated revenues of $13.5 million.
About Titan Machinery Inc.
Titan Machinery Inc., founded in 1980 and headquartered in West Fargo, North Dakota, is a multi-unit business with mature locations and newly acquired locations. The Company owns and operates a network of full-service agricultural and construction equipment stores in the United States. Upon closing of the previously announced acquisition of the St. Joseph's construction equipment dealerships, the Titan Machinery network will consist of 87 dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wisconsin and Wyoming, including two outlet stores, representing one or more of the CNH Brands (NYSE: CNH), a majority-owned subsidiary of Fiat Industrial (Milan: FI.MI), including Case IH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital. Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com.