Titan Machinery Inc. is one of the largest dealers of agricultural and construction equipment and the largest dealer for the

CNH Industrial CNH Industrial N.V. is an Italian-American multinational corporation with global headquarters in Basildon, United Kingdom, but controlled and mostly owned by the multinational investment company Exor, which in turn is controlled by the Agnelli ...

brands ( Case IH,

Case CE Case Construction Equipment (stylized as CASE Construction Equipment, commonly referred to as simply Case) is an American manufacturer of construction machinery. Along with CASE IH, Case Construction Equipment is a brand of CNH. Case produces con ...

New Holland Agriculture New Holland is a global full-line agricultural machinery manufacturer. New Holland agricultural products include tractors, combine harvesters, balers, forage harvesters, self-propelled sprayers, haying tools, seeding equipment, hobby tractors, ...

New Holland Construction New Holland Construction is an American manufacturer of construction machinery. Along with New Holland Agriculture, New Holland Construction is a brand of CNH. New Holland Construction produces construction equipment including backhoes, excava ...

) in the world. It is based in West Fargo, North Dakota and has locations throughout the

Midwestern United States The Midwestern United States, also referred to as the Midwest or the American Midwest, is one of four census regions of the United States Census Bureau (also known as "Region 2"). It occupies the northern central part of the United States. I ...

, Australia, Austria, Bulgaria, Germany, Romania and Ukraine. The company is publicly traded on

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

using the symbol TITN. As of 2023, the company reported a total revenue of US$2.209 billion.

History

Titan Machinery was founded in 1980 by its long-time CEO David Meyer and a partner. They started the company with two dealerships in Wahpeton, North Dakota and Lisbon, North Dakota. By 2003 Titan had grown to 13 dealerships. In December 2007 Titan Machinery was taken public with 34 dealerships and US$300 million in revenue at the time. In late 2011 Titan Machinery expanded into

Eastern Europe Eastern Europe is a subregion of the Europe, European continent. As a largely ambiguous term, it has a wide range of geopolitical, geographical, ethnic, cultural, and socio-economic connotations. The vast majority of the region is covered by Russ ...

with its purchase of two Case IH dealerships in

Bucharest Bucharest ( , ; ro, București ) is the capital and largest city of Romania, as well as its cultural, industrial, and financial centre. It is located in the southeast of the country, on the banks of the Dâmbovița River, less than north of ...

and Timișoara,

Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...

. In February 2012 the company acquired seven dealerships in

Bulgaria Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria,, ) is a country in Southeast Europe. It is situated on the eastern flank of the Balkans, and is bordered by Romania to the north, Serbia and North Macedon ...

and one dealership in

Serbia Serbia (, ; Serbian language, Serbian: , , ), officially the Republic of Serbia (Serbian language, Serbian: , , ), is a landlocked country in Southeast Europe, Southeastern and Central Europe, situated at the crossroads of the Pannonian Bas ...

in December 2012. After receiving approval from CNH Industrial, Titan Machinery opened its first dealership in Vinnitsa, Ukraine on February 18, 2014. Following declining revenue in its agricultural equipment business, Titan closed 3 stores in

South Dakota South Dakota (; Sioux language, Sioux: , ) is a U.S. state in the West North Central states, North Central region of the United States. It is also part of the Great Plains. South Dakota is named after the Lakota people, Lakota and Dakota peo ...

and

Wyoming Wyoming () is a U.S. state, state in the Mountain states, Mountain West subregion of the Western United States. It is bordered by Montana to the north and northwest, South Dakota and Nebraska to the east, Idaho to the west, Utah to the south ...

in March 2015 and reduced its workforce by 14% through

layoffs A layoff or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) for business reasons, such as personnel management or downsizing (reducing the ...

, store closings and open positions not being filled. On April 30, 2018, Titan Machinery announced its acquisition of Agram Landtechnikvertrieb GmbH and its 5 Case IH dealerships in

Mecklenburg-Vorpommern Mecklenburg-Vorpommern (MV; ; nds, Mäkelborg-Vörpommern), also known by its anglicized name Mecklenburg–Western Pomerania, is a state in the north-east of Germany. Of the country's sixteen states, Mecklenburg-Vorpommern ranks 14th in po ...

Brandenburg Brandenburg (; nds, Brannenborg; dsb, Bramborska ) is a states of Germany, state in the northeast of Germany bordering the states of Mecklenburg-Vorpommern, Lower Saxony, Saxony-Anhalt, and Saxony, as well as the country of Poland. With an ar ...

and

Saxony Saxony (german: Sachsen ; Upper Saxon: ''Saggsn''; hsb, Sakska), officially the Free State of Saxony (german: Freistaat Sachsen, links=no ; Upper Saxon: ''Freischdaad Saggsn''; hsb, Swobodny stat Sakska, links=no), is a landlocked state of ...

in Germany. In August 2023 the company announced its strategic acquisition of J.J. O’Connor & Sons Pty. Ltd. (“O’Connors”), the largest Case IH dealership group in

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

, for US$63 million. O'Connors has 15 dealership locations in the southeastern regions of Victoria,

New South Wales ) , nickname = , image_map = New South Wales in Australia.svg , map_caption = Location of New South Wales in AustraliaCoordinates: , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , es ...

, and

South Australia South Australia (commonly abbreviated as SA) is a state in the southern central part of Australia. It covers some of the most arid parts of the country. With a total land area of , it is the fourth-largest of Australia's states and territories ...

. In October 2023 Titan informed its shareholders, that the long-time CEO David Meyer will take on the role of executive chairman and be succeeded as CEO by the current COO Bryan Knutson, effective February 1, 2024. As of January 31, 2023, Titan Machinery operates a total of 123 dealerships worldwide. 86 of these dealerships are in the United States, located in Colorado (3 locations), Idaho (1 location), Iowa (15 locations), Kansas (1 location), Minnesota (16 locations), Missouri (1 location), Montana (1 location), Nebraska (16 locations), North Dakota (16 locations), Washington (1 location), Wisconsin (2 locations), Wyoming (1 location) and South Dakota (12 locations), as well as 37 European dealerships in Bulgaria (7 locations), Germany (7 locations), Romania (14 locations) and Ukraine (9 locations) and a European headquarters at the

Vienna airport Vienna International Airport (german: Flughafen Wien-Schwechat; ) is the international airport of Vienna, the capital of Austria, located in Schwechat, southeast of central Vienna and west of Bratislava, the capital of Slovakia. It is the ...

References

{{reflist

External links

Official website
Companies listed on the Nasdaq Companies based in Fargo–Moorhead Agriculture companies of the United States American companies established in 1980 Retail companies established in 1980