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Media release: Clayton Utz advises Titan Machinery on its successful US$63 million acquisition of J.J. O'Connor & Sons
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A Clayton Utz team has advised US-listed Titan Machinery Inc. [NASDAQ:TITN] (Titan) on its successful acquisition of 100% of the issued share capital in J.J. O'Connor & Sons Pty Ltd (O'Connors). The deal is valued at approximately US$63 million and the transaction was completed on 2 October 2023.
Corporate partner Michael Linehan led the firm's team, which included partners Jerome Martin (Real Estate) and Damien Gardiner (Environment & Sustainable Development); senior associates Patricia Hill (Corporate, M&A & Capital Markets), Adrian Vosk (Corporate, M&A & Capital Markets), Min Seetoh (Real Estate), Emily Flynn (Environment & Sustainable Development), Annabelle Lesage (Workplace Relations, Employment & Safety); and lawyers Sacha Fitzpatrick (Corporate, M&A & Capital Markets) and Michelle Pawluck (Workplace Relations, Employment & Safety).
O’Connors, founded in 1964 in Victoria, is the largest Case IH dealership group in Australia and a market leader in high horsepower agricultural equipment. The transaction is notable in delivering Titan's entry, at scale, into the Australian agribusiness market.
Commenting on the transaction, Michael said:
We extend our congratulations to Titan on entering the Australian agribusiness sector and are delighted to have assisted complete this strategic acquisition. We look forward to continuing our support for Titan as they work towards realising network synergies and continuing the growth of the business in Australia.
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Disclaimer
Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.