Titan Machinery Inc. (NASDAQ:TITN) announced today that it has closed on its previously announced acquisition of Mid-Land Equipment Company, L.C., with six dealerships in Iowa and Nebraska.
Mid-Land Equipment, with locations in Des Moines, Davenport, Clear Lake and Cedar Rapids, Iowa and Omaha and Lincoln, Nebraska, is a dealer for Case Construction (CE) Equipment. Mid-Land reported revenues of $48.3 million during its most recently completed fiscal year ended December 31, 2007. The six Mid-Land Case construction stores are contiguous to existing Titan Machinery CaseCE stores in South Dakota and strategically overlay the existing nine Titan Machinery CaseIH agricultural locations in Iowa.
About Titan Machinery Inc.
Titan Machinery Inc., founded in 1980 and headquartered in Fargo, North Dakota, owns and operates one of the largest networks of full service agricultural and construction equipment stores in North America. With the addition of six Mid-Land Equipment dealerships, the current Titan Machinery network will consist of 48 dealerships in North Dakota, South Dakota, Minnesota, Iowa and Nebraska, including two outlet stores, representing one or more of the CNH Brands (NYSE:CNH) 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.