Titan Machinery announced it has entered into a definitive purchase agreement to acquire ABC Rental, an independent rental yard company. The acquisition consists of four rental equipment locations in Missoula, Bozeman, and Big Sky, MT, and Williston, ND. The locations in Missoula, Williston and Bozeman will consolidate with the Titan Machinery existing Case CE dealerships in their respective markets. The acquisition is subject to customary conditions to closing and is expected to close on or around April 1, 2011.

ABC has been in business for more than 40 years. Roland Schumacher, owner of ABC, will remain with the company upon the closing of the acquisition. In its most recently reported fiscal year ended December 31, 2010, ABC Rental generated revenues of $5.5 million.

With locations in southwest Montana as well as western North Dakota, these rental locations are well positioned to benefit from the increased activity of the surrounding oil, coal and natural gas exploration and extraction in Montana, North and South Dakota as well as Wyoming.

David Meyer, Titan Machinery’s chairman and CEO, said, “We are excited about our expansion into the construction rental business with the acquisition of ABC Rental. The timing of acquisitions coincides with increased rental demand activity in the industry. Roland Schumacher and his team bring an added rental expertise to the Titan Machinery operating model. We have been preparing for the right opportunity to expand our rental model and with ABC Rental as part of the organization the proper growth platform is now in place in this area of our business.”