May M&A: Titan Machinery acquires Farmers and more

Equipment industry mergers and acquisitions activity remained strong in May, as farm equipment-related transactions dominated activity. 

Titan Machinery acquires Farmers Implement & Irrigation 

Titan Machinery completed its acquisition of Farmers Implement & Irrigation, a New Holland dealership, with locations in Brookings and Watertown, S.D., for an undisclosed amount, according to a May 16 Titan Machinery release. 

The deal, which closed May 15, expands Titan’s footprint in eastern South Dakota, according to the release. Farmers Implement & Irrigation recorded about $20 million in revenue in 2024.  

The acquisition supports Titan Machinery’s growth and enhances its customer service. Founded in 1980, Titan Machinery operates a global network of agricultural and construction equipment dealerships across North America, Europe and Australia. 

John Deere adds Sentera to boost aerial capabilities 

John Deere purchased Minnesota-based provider of ag drone imagery and analytics solutions Sentra for an undisclosed amount, according to a May 23 Deere release. 

Deere aims to enhance Sentera’s precision agriculture offerings, according to the release. The integration of Sentera’s technology with the John Deere Operations Center will enable farmers and agronomists to capture high-resolution field data, generate weed-killing maps, and optimize crop performance, ultimately reducing waste. 

The acquisition supports Deere’s strategy of offering scalable digital tools that align with farmers’ varying levels of tech adoption. 

Sentera will continue to supply camera systems to drone manufacturers and maintain compatibility with other imagery platforms, according to the release. The operations center will also remain open to third-party providers. 

Deere dealer Premier Equipment expands to 11 locations 

Premier Equipment, a John Deere dealership group serving southern Ontario, will acquire another Deere dealership, Deerhaven Farm and Garden in Belleville, Ontario, for an undisclosed amount. The deal is expected to close on July 31, according to a May 15 Premier release.  

Deerhaven has been an equipment provider in the region since 1994, according to the release. The dealership’s customer base includes agricultural and livestock producers, as well as rural and cottage property owners.  

Premier Equipment has sold John Deere sprayers and application equipment in central and eastern southern Ontario since 2016, according to the release. The acquisition allows Premier to expand its service capabilities. Premier will grow to 11 locations and more than 400 employees. 

Meanwhile, Deerhaven’s powersports division, which offers Polaris off-road vehicles and snowmobiles and Pricecraft boats, will remain independently owned by Ken Morton and continue as Deerhaven Powersports, according to the release. Both Premier and Deerhaven Powersports plan to operate from the current Belleville facilities.  

Floyd’s Truck Center adds Nebraska Truck Center 

Floyd’s Truck Center acquired Nebraska Truck Center (NTC) for an undisclosed amount, according to a May 1 Floyd release. 

The addition expands Floyd’s presence across central Nebraska with locations in Grand Island, Hastings and North Platte, according to the release. Founded in 1969, NTC sold Freightliner and Western Star heavy-duty trucks.  

The acquisition extends Floyd’s coverage along more than 600 miles of Interstate 80, including locations in Scottsbluff and Sidney, according to the release.  

NTC employees will remain with the company, according to the release. 

First Commonwealth finalizes acquisition of CenterGroup 

First Commonwealth Financial completed its acquisition of CenterGroup Financial, the parent company of Milford, Ohio-based CenterBank, for an undisclosed amount, according to a May 1 First Commonwealth release.  

The deal strengthens First Commonwealth’s presence in the Cincinnati market and adds CenterBank’s business-focused community banking services to its portfolio, according to the release.  

Commercial clients will have access to a suite of financing and cash management solutions, according to the release. First Commonwealth reported equipment finance loans and leases of $485.8 million for the first quarter of 2025, up 73.5% year over year. 

First Commonwealth, based in Indiana, Pa., operates 125 regional banking offices and provides a full range of financial services through its subsidiaries, according to the release.