Titan Machinery To Acquire Heartland Ag Systems
Big red is getting bigger.
Titan Machinery announced an agreement to acquire the largest Case IH application distributor in North America, Heartland Ag Systems.
According to Titan Machinery, the final deal is for an aggregate total of $110 million.
Heartland Ag Systems has focused on application-focused equipment for commercial applicators, and in 2021 the company had revenues totaling $213.9 and EBITDA of $15.3 million. The business was founded in 1966, is based in Hutchinson, Minn., and has exclusive distribution agreements across 17 midwestern and northwestern states, supported by 12 retail stores, six in Titan Machinery's existing footprint.
David Meyer, Titan Machinery's Chairman and Chief Executive Officer, said, "We are proud to announce our definitive agreement to acquire Heartland Ag Systems today. This transaction is significant for Titan Machinery both in size and strategic fit. Most importantly, this gives Titan Machinery access to the full product line of Case IH application equipment, including self-propelled sprayers and fertilizer applicators, along with incremental sales opportunities to package with tractors, tillage, and construction equipment to the commercial application customer. The increased parts, service and technical capabilities we bring to the commercial application customers in our highly productive core Agriculture footprint, combined with the long-term business relationships Heartland has developed with the commercial application customers, will be a win/win for Titan Machinery, Heartland, Case IH, and the hundreds of commercial application providers in our core markets."
Read more about Heartland Ag Systems
