Titan Machinery Inc. last week signed an agreement to acquire Western Plains Machinery Co., and WP Rentals consisting of nine locations in Montana and Wyoming. The acquisition is expected to close on or around Dec. 31, subject to completion of certain customary closing conditions.
"We are excited about the opportunities these nine locations offer us in the construction market,” said David Meyer, CEO of Titan Machinery. “With great employees, a strong customer base and over 65 years of experience, Western Plains Machinery has consistently produced significant revenue and market share results by focusing on energy, mining, residential, commercial as well as infrastructure projects on the local, state and federal levels. Western’s nine locations are contiguous to our existing construction stores in North and South Dakota, Iowa and Nebraska; providing great synergies with our existing construction stores.”
Western Plains Machinery was founded in 1940 and has Case Construction dealerships in Billings, Great Falls, Missoula and Kalispell, Mont., and Casper and Gillette, Wyo. WP Rentals has locations in Billings and Belgrade, Mont., and Cheyenne, Wyoming. In its most recent fiscal year ended Dec. 31, 2007, Western Plains Machinery and WP Rental generated revenues of $48.9 million, with a significant portion coming from rental.
Titan Machinery Inc., founded in 1980 and headquartered in Fargo, N.D., is a multi-unit business with mature locations and newly acquired locations. The company owns and operates one of the largest networks of full service agricultural and construction equipment stores in North America. The current Titan Machinery network consists of 60 dealerships in North Dakota, South Dakota, Minnesota, Iowa and Nebraska, including two outlet stores, representing one or more of the CNH Brands — CaseIH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital.
