Titan Machinery Inc. (NASDAQ:TITN) announced today that it has closed on the Virgl Implement Inc. and Victors Inc. acquisitions. Virgl Implement Inc. consists of one Case IH agriculture equipment dealership in Wahoo, Neb., and Victors Inc. consists of one Case IH agriculture equipment dealership in Fremont, Neb.
Located in eastern Nebraska, Virgl Implement Inc. and Victors Inc. are situated among some of the world's most productive agriculture land. Both dealerships benefit from their proximities to the Ogallala Aquifer, one of the world's largest aquifers that provide irrigation resources resulting in a concentration of intense agriculture, high yields and diversification through all weather cycles. The dealerships provide excellent synergies with the company's six agriculture equipments stores that were part of the Fairbanks acquisition. In their most recently reported fiscal years, Virgl Implement Inc. and Victors Inc. generated combined revenue of approximately $45 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. The Titan Machinery network consists of 89 dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wyoming and Wisconsin 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.