AUSTRALIA’S largest Case IH dealership group, O’Connors, has agreed to a share purchase offer from US-based company Titan Machinery Inc, with the deal expected to close in the coming quarter.
Announced yesterday, it will see the 16 O’Connors dealerships transition to ownership by Titan, an agricultural and construction company founded in 1980 and headquartered in West Fargo, North Dakota.
Titan owns and operates a network of more than 100 full-service agricultural and construction equipment dealer locations in North America and Europe.
Both O’Connors and Titan have said the it will be “business as usual” for the O’Connors network under new ownership.
“Joining the Titan Group will further enhance the customer benefits that come with an expansive network, particularly in the areas of parts availability and technical support as well as product expertise and availability,” O’Connors chief executive officer Gareth Webb said.
“Our customers and staff will have access to knowledge and support from the world’s largest Case IH dealer, bolstering the support already offered.”
“The current O’Connors management team and employees will remain the same.
“It will be business as usual in our day-to-day operations and our customers remain our number one priority.”
The O’Connor business began in Birchip in north-west Victoria in 1964 when JJ O’Connor purchased his first International Harvester dealership.
The network today include branches in Condobolin, Corowa, Forbes, Grenfell, and West Wyalong in New South Wales; Ballarat, Birchip, Echuca, Horsham, Mildura, Ouyen, St Arnaud, Shepparton, Swan Hill, and Warracknabeal in Victoria, and Bordertown in South Australia.
“It’s the strong O’Connors team, along with their great track record of retailing and supporting the high horsepower Case IH product line up that makes this a very compelling acquisition,” Titan Machinery chairman and chief executive officer David Meyer said.
Case IH Australia/New Zealand general manager Aaron Bett has welcomed the announcement.
“O’Connors has a rich history in Australian agriculture and has built a significant business with an emphasis on the highest level of customer service and support,” Mr Bett said.
“I’d like to recognise Mark and Dennis O’Connor who have continued to grow the dealer group into a robust and dynamic network that has attracted Titan Machinery to recognise the enormous opportunities in the Australian agriculture market.”