Titan International to Sell Italtractor ITM Undercarriage for Up to $285 Million
The off-highway wheel and tire maker said the cash asset sale will sharpen focus on core operations and fund accretive growth and debt reduction.
Titan International, Inc. (TWI) agreed to sell the undercarriage business of Italtractor ITM for up to approximately $285 million in total cash value, an asset-purchase deal the company said will let it sharpen its strategic focus on core global wheel and tire operations.
The global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products said the sale is expected to close early in January 2027, subject to customary closing conditions, including required regulatory approvals.
President and Chief Executive Officer Paul Reitz called the transaction an important step in Titan’s transformation. “This transaction is an important step forward in Titan's transformation. We have worked hard to reach an agreement that delivers strong value for Titan and provides ITM with an owner that understands the undercarriage business and is committed to its future. The transaction will allow Titan to focus our people, capital and resources on our core global wheel and tire operations while giving us the financial capacity to pursue accretive growth opportunities and reduce debt. This transaction helps Titan to reshape its portfolio, accelerate strategic investments, pursue transformative acquisitions and partnerships, and create long-term value for our shareholders.”
The sale will strengthen Titan’s financial position and provide flexibility to invest in its highest-priority growth opportunities.
Titan is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, with three reporting segments organized by end market. In the second quarter ended June 30, 2026, revenues grew 5.2% to $484 million, gross margin improved to 15.5%, and Adjusted EBITDA increased 13.3% to $34 million, with free cash flow of $26 million.
Reitz said Consumer was the best-performing segment in that quarter, with 27% growth versus the prior-year period as the Titan Specialty business experienced solid end-customer demand. EMC grew 1.4% as construction end markets moderated, and Ag sales were down 5% as lower farm incomes and elevated financing costs continued to weigh.
The three segments each accounted for between 30% and 40% of revenues in the quarter. Closing of the Italtractor ITM undercarriage sale remains subject to customary conditions, including required regulatory approvals, with an expected close in early January 2027.