Titan International Acquires Carlstar Group LLC For Approximately $296M In Cash And Stock Transaction

2/29/24 6:07:20 AM ET

Steel/Iron Ore

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The transaction price represents a multiple of approximately 4x Carlstar's FY 2023 adjusted EBITDA of $73 Million and is expected to be immediately accretive to earnings per share and operating margins in 2024. Carlstar is a global manufacturer and distributor of specialty tires and wheels for a variety of end-market verticals. Carlstar's global 2023 revenues were approximately $615 million.

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Titan International, Inc. Reports Third Quarter Financial Performance
Delivers Results Reflective of Industry Conditions, with strong Free Cash Flow of $42 Million and Adjusted EBITDA of $20 Million Recent Interest Rate Decreases and Expected Clarity on Trade Policy Should Support Improving Conditions in 2025 WEST CHICAGO, Ill., Oct. 30, 2024 /PRNewswire/ -- Titan International, Inc. (NYSE:TWI) ("Titan" or the "Company"), a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, today reported financial results for the third quarter ended September 30, 2024. Paul Reitz, President and Chief Executive Officer stated, "I have been spending a lot of time with customers in recent months, and it is clear that Titan's positio
10/30/24 4:15:00 PM ET
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Titan International, Inc. Repurchases 8.0 Million Shares from MHR Fund Management
CHICAGO, Oct. 21, 2024 /PRNewswire/ -- Titan International, Inc. announced it completed the repurchase of 8.0 million shares of common stock from MHR Fund Management for $57.6 million ($7.20 per share) in cash. MHR Fund Management is led by Mark Rachesky, who has been a member of Titan International Inc's Board of Directors since 2014. Paul Reitz, Titan's President and Chief Executive Officer, stated, "Titan's Board of Directors was presented with an opportunity for our shareholders to repurchase 8.0 million shares (11% of outstanding shares) at $7.20 per share from MHR Fund Management. Titan's balance sheet is in a healthy position prior to this transaction with approximately $225 million
10/21/24 6:00:00 AM ET
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Titan to launch VPO™ Technology at Equip Expo 2024
VPO offers a high-performing, durable alternative to tweel wheels CHICAGO, Oct. 15, 2024 /PRNewswire/ -- Titan International Inc. (Titan) and the recently acquired Carlstar Group are proud to announce the launch of its Variable Pressure Operation (VPO™) Technology™ at Equip Exposition, from October 15-18 in Louisville, Kentucky. This innovative flat-proof technology offers a versatile solution as an alternative to tweel wheels, and other airless polyurethane spoke wheel options, by providing the ability to effectively operate machinery at various inflation pressures — even down to zero psi.
10/15/24 4:15:00 PM ET
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Titan International, Inc. to Announce Third Quarter 2024 Financial Results on October 30
CHICAGO, Oct. 9, 2024 /PRNewswire/ -- Titan International, Inc. will release its third quarter 2024 financial results after the close of the market on Wednesday, October 30, 2024 to be followed by a teleconference and webcast on Thursday, October 31, 2024 at 9:00 a.m. Eastern Time. The real-time, listen-only webcast can be accessed using the following link https://events.q4inc.com/attendee/566818353 on our website at www.titan-intl.com within the "Investor Relations" page under the "News & Events" menu (https://ir.titan-intl.com/news-and-events/events/default.aspx). Listeners should access the website at least 10 minutes prior to the live event. In order to participate in the real-time tele
10/9/24 4:15:00 PM ET
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Titan International, Inc. to Announce Second Quarter 2024 Financial Results on July 31
CHICAGO, July 10, 2024 /PRNewswire/ -- Titan International, Inc. will release its second quarter 2024 financial results after the close of the market on Wednesday, July 31, 2024 to be followed by a teleconference and webcast on Thursday, August 1, 2024 at 9:00 a.m. Eastern Time. The real-time, listen-only webcast can be accessed using the following link https://events.q4inc.com/attendee/651060873 on our website at www.titan-intl.com within the "Investor Relations" page under the "News & Events" menu (https://ir.titan-intl.com/news-and-events/events/default.aspx). Listeners should access the website at least 10 minutes prior to the live event. In order to participate in the real-time telecon
7/10/24 4:15:00 PM ET
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Titan International, Inc. to Announce First Quarter 2024 Financial Results on May 1
CHICAGO, April 10, 2024 /PRNewswire/ -- Titan International, Inc. will release its first quarter 2024 financial results after the close of the market on Wednesday, May 1, 2024 to be followed by a teleconference and webcast on Thursday, May 2, 2024 at 9:00 a.m. Eastern Time. The real-time, listen-only webcast can be accessed using the following link https://events.q4inc.com/attendee/722246104 on our website at www.titan-intl.com within the "Investor Relations" page under the "News & Events" menu (https://ir.titan-intl.com/news-and-events/events/default.aspx). Listeners should access the website at least 10 minutes prior to the live event. In order to participate in the real-time teleconferen
4/10/24 4:15:00 PM ET
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Titan International To Discuss With American Industrial Partners To Increase Its Ownership in Company In Open Market Purchases.
Titan International, Inc. (NYSE:TWI) ("Titan or the "Company"), a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, today reported that its board of directors plans to discuss with its largest shareholder, American Industrial Partners ("AIP"), a possible amendment of the parties' Stockholder Agreement to allow AIP to increase its ownership of TWI common stock in open market purchases.Private equity funds managed by AIP own approximately 16.4% of TWI's outstanding shares, which were acquired as a result of TWI's purchase of Carlstar Group, LLC, that closed in February 2024. In connection with that acquisition, AIP and TWI entered into the Stockh
5/29/24 4:54:50 PM ET
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Titan International Acquires Carlstar Group LLC For Approximately $296M In Cash And Stock Transaction

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Recent Analyst Ratings for
$TWI

$TWI
Press Releases

Fastest customizable press release news feed in the world

Titan International, Inc. Reports Third Quarter Financial Performance

Titan International, Inc. Repurchases 8.0 Million Shares from MHR Fund Management

Titan to launch VPO™ Technology at Equip Expo 2024

$TWI
Financials

Live finance-specific insights

Titan International, Inc. to Announce Third Quarter 2024 Financial Results on October 30

Titan International, Inc. to Announce Second Quarter 2024 Financial Results on July 31

Titan International, Inc. to Announce First Quarter 2024 Financial Results on May 1

$TWI
SEC Filings

SEC Form S-3 filed by Titan International Inc. (DE)

Amendment: Titan International Inc. (DE) filed SEC Form 8-K: Financial Statements and Exhibits

Titan International Inc. (DE) filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

$TWI
Insider Trading

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Director Rachesky Mark H Md disposed of $57,636,000 worth of shares (8,005,000 units at $7.20) (SEC Form 4)

Director Rachesky Mark H Md was granted 24,177 shares (SEC Form 4)

Director Guinn Max A was granted 24,177 shares, increasing direct ownership by 20% to 145,556 units (SEC Form 4)

$TWI
Market Insights

Live Market Insights

Titan International To Discuss With American Industrial Partners To Increase Its Ownership in Company In Open Market Purchases.

Spirit Airlines Posts Weak Results, Joins Integra LifeSciences, Bowlero And Other Big Stocks Moving Lower On Monday

12 Industrials Stocks Moving In Thursday's Pre-Market Session

$TWI
Leadership Updates

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Titan International, Inc. Acquires Carlstar Group LLC

Titan International, Inc. Announces Appointment of Laura K. Thompson, Former Executive Vice President of The Goodyear Tire & Rubber Company, to Board of Directors

$TWI
Large Ownership Changes

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Amendment: SEC Form SC 13D/A filed by Titan International Inc. (DE)

SEC Form SC 13D/A filed by Titan International Inc. (DE) (Amendment)

SEC Form SC 13D filed by Titan International Inc. (DE)

Titan International Acquires Carlstar Group LLC For Approximately $296M In Cash And Stock Transaction

Chat with this insight

Recent Analyst Ratings for $TWI

$TWI Press Releases

Fastest customizable press release news feed in the world

Titan International, Inc. Reports Third Quarter Financial Performance

Titan International, Inc. Repurchases 8.0 Million Shares from MHR Fund Management

Titan to launch VPO™ Technology at Equip Expo 2024

$TWI Financials

Live finance-specific insights

Titan International, Inc. to Announce Third Quarter 2024 Financial Results on October 30

Titan International, Inc. to Announce Second Quarter 2024 Financial Results on July 31

Titan International, Inc. to Announce First Quarter 2024 Financial Results on May 1

$TWI SEC Filings

SEC Form S-3 filed by Titan International Inc. (DE)

Amendment: Titan International Inc. (DE) filed SEC Form 8-K: Financial Statements and Exhibits

Titan International Inc. (DE) filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

$TWI Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Director Rachesky Mark H Md disposed of $57,636,000 worth of shares (8,005,000 units at $7.20) (SEC Form 4)

Director Rachesky Mark H Md was granted 24,177 shares (SEC Form 4)

Director Guinn Max A was granted 24,177 shares, increasing direct ownership by 20% to 145,556 units (SEC Form 4)

$TWI Market Insights

Live Market Insights

Titan International To Discuss With American Industrial Partners To Increase Its Ownership in Company In Open Market Purchases.

Spirit Airlines Posts Weak Results, Joins Integra LifeSciences, Bowlero And Other Big Stocks Moving Lower On Monday

12 Industrials Stocks Moving In Thursday's Pre-Market Session

$TWI Leadership Updates

Live Leadership Updates

Titan International, Inc. Acquires Carlstar Group LLC

Titan International, Inc. Announces Appointment of Laura K. Thompson, Former Executive Vice President of The Goodyear Tire & Rubber Company, to Board of Directors

$TWI Large Ownership Changes

This live feed shows all institutional transactions in real time.

Amendment: SEC Form SC 13D/A filed by Titan International Inc. (DE)

SEC Form SC 13D/A filed by Titan International Inc. (DE) (Amendment)

SEC Form SC 13D filed by Titan International Inc. (DE)

Recent Analyst Ratings for
$TWI

$TWI
Press Releases

$TWI
Financials

$TWI
SEC Filings

$TWI
Insider Trading

$TWI
Market Insights

$TWI
Leadership Updates

$TWI
Large Ownership Changes