Titan International Signs Definitive Agreement to Sell ITM Business to USCO S.p.A.
Titan International signed a definitive agreement to sell its Italtractor ITM undercarriage business to USCO S.p.A., with total cash value expected to reach up to approximately $285 million. That comprises a $207 million initial purchase price, up to $6 million in 2026-performance earnout, roughly $23 million of expected closing adjustments, and $49 million of ITM dividends. Titan plans to use proceeds to cut debt, strengthen the balance sheet, and fund accretive acquisitions and growth investments while sharpening focus on its core global wheel and tire operations. Closing is expected in early January 2027, subject to regulatory approvals.
Key figures
- Deal Value Usd
- 285000000
- Max earnout
- 6000000
- Earnout basis
- ITM achievement of specified performance criteria for 2026
- Expected close
- early January 2027, subject to regulatory approvals
- Fx translation note
- USD amounts translated at €1.00 = $1.148 as of September 18, 2026
- Itm dividends total
- 49000000
- Initial purchase price
- 207000000
- Expected closing adjustment
- 23000000
- Itm dividends already received
- 38000000
- Itm dividends expected pre close
- 11000000
AI analysis
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