newsfilter
← Latest News
PR Newswire·

Titan International Signs Definitive Agreement to Sell ITM Business to USCO S.p.A.

TWI
  • Titan International, Inc. signed a definitive agreement to sell its Italtractor ITM undercarriage business to USCO S.p.A.
  • The transaction includes an initial purchase price of $207 million plus a potential $6 million earnout based on 2026 performance.
  • Customary adjustments based on net asset position are expected to add approximately $23 million to the total cash value.
  • Dividends received or expected prior to closing total $49 million ($38 million received historically and $11 million anticipated).
  • The total expected cash value for Titan from the deal, including the earnout, is approximately $285 million.
  • The sale allows Titan to focus on core wheel & tire operations in agricultural, construction, and consumer markets.
  • Titan intends to use proceeds to reduce existing debt, strengthen its balance sheet, and pursue accretive growth opportunities.
  • The transaction is expected to close in early January 2027, subject to regulatory approvals.
  • Maurice M. Taylor, Jr. praised the strategic patience required to secure the deal and highlighted potential expansion into the defense sector.
  • Paul Reitz stated the deal enables Titan to reshape its portfolio, accelerate investments, and create long-term shareholder value.
  • ITM will continue operations under USCO to expand its global undercarriage solutions in construction, mining, forestry, and agriculture.
  • Legal advisors included Gianni & Origoni for Titan ITM, while USCO was advised by Eidos Partners, Simmons+Simmons, BDO, and KPMG.
  • Exchange rates used for the press release were based on €1.00 to $1.148 as of September 18, 2026.