O’Connors to be sold to US based Titan Machinery

A family-owned farm machinery supplier, founded at Birchip in the 1960s, is set to be snapped up by an American giant for millions.

Family-owned Victorian farm machinery and equipment supplier O’Connors is set to change hands in a deal worth almost $100 million.

Spanning 16 dealerships across NSW, Victoria and South Australia’s wheatbelt region, O’Connors will be acquired by US-based agricultural and construction company Titan Machinery via a share purchase offer.

Titan announced it had entered into a definitive purchase agreement to acquire O’Connors for $63 million (USD) in cash, subject to final working capital and other closing adjustments. The deal is expected to be finalised during the fourth quarter of this calendar year.

It is anticipated Titan Machinery will retain O’Connors’ management team following the acquisition, who will be responsible for the region’s operating performance and report into Titan’s executive team.

O’Connors is regarded as the largest Case IH dealership group in Australia with Victorian dealerships at Birchip, Ballarat, St Arnaud, Warracknabeal, Horsham, Shepparton, Echuca, Mildura, Ouyen and Swan Hill.

O’Connors CEO Gareth Webb (second left) with sales manager Tim Edgar, Echuca Case IH director David Jackson, Echuca Case IH dealer principal Darren Stephenson and branch manager Melissa Freeman.

They also have NSW dealerships at Corowa, Condobolin, Forbes, Grenfell and West Wyalong, as well as Bordertown in SA.

The company was founded in the southern Mallee town of Birchip in 1964 when JJ O’Connor purchased his first International Harvester dealership.

In 2018, Gareth Webb became the first head of O’Connors from outside the O’Connor family when Mark O’Connor retired.

Mr Webb said the multimillion deal would give the company greater access to parts and technical support for their Case IH product range.

“Our customers and staff will have access to knowledge and support from the world’s largest Case IH dealer, bolstering the support already offered,” Mr Webb said.

“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.”

Founded in 1980 and headquartered in West Fargo, North Dakota, Titan Machinery is the world’s largest Case IH dealer.

“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,” Titan Machinery chairman and chief executive officer David 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.”