Titan Machinery Inc. (NASDAQ:TITN) announced today that it has acquired Adobe CE, LLC, consisting of one Case Construction equipment dealership located in Albuquerque, New Mexico.
The Albuquerque location represents the Company’s first dealership in New Mexico. The dealership is strategically located in Albuquerque to serve a twenty county area. In its most recently reported fiscal year, Adobe CE, LLC generated revenue of approximately $8 million.
David Meyer, Titan Machinery’s Chairman and CEO, said, “We are excited to expand our construction equipment footprint into New Mexico, and we look forward to establishing our brand in this new market. New Mexico is strategically located between our Colorado and Arizona markets and has good market potential for new and used construction equipment and parts and service sales, as well as for associated rental demand. With this acquisition, Titan Machinery now has a contiguous Case Construction footprint from Arizona to the Canadian border.”
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 and Europe. The Titan Machinery network consists of 106 North American dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wyoming, Wisconsin, Colorado, Arizona, and New Mexico, including two outlet stores, and 13 European dealerships in Romania, Bulgaria, and Serbia. The Titan Machinery dealerships represent one or more of the CNH Brands (NYSE: CNH), a majority-owned subsidiary of Fiat Industrial (Milan: FI.MI), including CaseIH, 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.
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