Titan Machinery this week said it has closed on two previously announced acquisitions: Schoffman's Inc. and ABC Rental.
The Schoffman’s acquisition consists of one Case IH agriculture dealership located in Redwood Falls, Minn. The ABC Rental acquisition consists of four rental equipment locations in Missoula, Bozeman, and Big Sky, Mont.; and Williston, N.D. The locations in Missoula, Williston and Bozeman have consolidated with the Titan Machinery existing Case CE dealerships in their respective markets, leveraging the synergies of both companies.
Schoffman’s Inc., which began operations in 1895, is a fourth-generation dealership strategically located in the fertile Minnesota River Valley and is contiguous to Titan Machinery's Marshall Dealership. In its most recently reported fiscal year ended Jan. 31, Schoffman's generated revenues of approximately $16 million.
In business for more than 40 years, ABC Rental is one of the leading rental equipment companies in Montana. It is well-positioned to benefit from the increased activity of the surrounding oil, coal and natural gas exploration and extraction in Montana, North and South Dakota as well as Wyoming. In its most recently reported fiscal year ended Dec. 31, ABC Rental generated revenues of $5.5 million.
Titan Machinery, West Fargo, N.D., is a multi-unit business with mature and newly acquired locations. The company owns and operates a network of 81 full-service agricultural and construction equipment stores in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska and Wyoming, including two outlet stores, representing one or more of the CNH brands including Case IH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital.