General News
31 August, 2023
Major agriculture supplier's overseas buyer
O’Connors, Australia’s largest Case IH dealership group, has announced they have mutually agreed to a share purchase offer from overseas company Titan Machinery, which will see the company transfer into foreign ownership by the end of the year...
O’Connors, Australia’s largest Case IH dealership group, has announced they have mutually agreed to a share purchase offer from overseas company Titan Machinery, which will see the company transfer into foreign ownership by the end of the year.
O’Connors said Titan Machinery Inc is a leading network of full-service agricultural and construction equipment stores throughout the United States and Europe, and is expected to close on the acquisition, subject to customary closing conditions.
Company officials are all celebrating the deal.
“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 CEO 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 family-owned business began in Birchip in 1964 when JJ O’Connor purchased his first International Harvester dealership.
After a second store was opened in Warracknabeal, the company expanded to include Ballarat, Birchip, Bordertown, Condobolin, Corowa, Echuca, Forbes, Grenfell, Horsham, Mildura, Ouyen, Shepparton, Swan Hill, St Arnaud and West Wyalong.
“The current O’Connors management team and employees will remain the same,” Mr Webb said
“It will be business as usual in our day-to-day operations and our customers remain our number one priority.
“We will continue to provide the high-quality sales and service support you’ve come to expect from your local O’Connors dealer.”
General Manager of Case IH Australia/New Zealand Aaron Bett welcomed the announcement and congratulated the O’Connors Executive team on “securing such a significant development.”
“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.”
Titan Machinery Inc was founded in 1980, and its headquarters are based in West Fargo, North Dakota.
The US company owns and operates a network of machinery dealerships for agricultural and construction use across both North America and Europe.
“(Titan Machinery Inc) will bring more than four decades of experience and knowledge,” said Mr Bett.
“This agreement can only enhance the stability and ongoing development of the business, which is an enormous positive for the whole of the Case IH dealer network, and we look forward to working with the Titan Machinery team.”
Titan Machinery Inc CEO and chairman David Meyer said they were impressed by both the management style and service teams track records of sales and support, and look forward to moving into the future with them.
“We are very impressed with the O’Connors senior management team, led by CEO Gareth Webb, who have been operating the business exceptionally well over the last five years, after succeeding the retiring major shareholders Dennis and Mark O’Connor,” Mr Meyer said.
“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.
“O’Connors has established itself as a respected leader in the region, earning a reputation for its deep expertise and employee and customer-centric focus.”