Titan Machinery Inc. (NASDAQ:TITN) announced today that it has closed on the acquisition of East Helena Rental, LLC, an independent rental yard located in Helena, Montana.
East Helena Rental has been in business for over fifteen years. This rental equipment location will benefit from synergies with Titan Machinery’s existing locations in Missoula, Great Falls, Bozeman and Big Sky. In its most recently reported fiscal year, East Helena Rental generated revenue of approximately $1 million.
David Meyer, Titan Machinery’s Chairman and CEO, said, “We are excited about the acquisition of East Helena Rental, as it will enable us to further capitalize on the construction rental opportunity and provide parts and service capabilities in the Helena area. This complements our rental locations that were part of the ABC Rental acquisition completed last year.”
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 96 dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wyoming, Wisconsin, and Colorado including two outlet stores, as well as 10 European dealerships in Romania and Bulgaria. 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 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. Forward-Looking Statements Certain statements found in this press release may constitute forward-looking statements as defined by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. Such statements are generally identifiable by the terminology used, such as “anticipate,” “believe,” “intend,” “expect,” “plan,” or other similar words. Our forward-looking statements in this release generally relate to the benefits related to the East Helena Rental, LLC acquisition. Although it is not possible to foresee all of the factors that may cause actual results to differ from our forward-looking statements, such factors include, among others, integrating East Helena Rental, LLC’s operations with Titan Machinery’s existing network and those risks described from time to time in our reports to the Securities and Exchange Commission. Investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions that could cause our current expectations or beliefs to change. Stockholders and other readers should not place undue reliance on “forward-looking statements,” as such statements speak only as of the date of this release. We undertake no obligation to update publicly or revise any forward-looking statements.
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