The combined group will incorporate both companies' talent, infrastructure, and intellectual property, and provide an Australia-wide, Australian-owned supplier of wheel, tyre and axle solutions.
Titan Australia has an extensive history providing tyre, wheel and axle solutions to the agriculture, mining and construction industries across Australia's east and west coast.
OTR says Titan will add to its depth and brings Australian servicing to the business in Brisbane and Mildura, Victoria, together with additional locations in Emerald, Queensland and the Hunter Valley in New South Wales.
Headquartered in Perth, OTR Tyres has a strategic presence in major mining hubs in Western Australia, with supply depots in Kalgoorlie, Karratha and Port Hedland.
OTR Tyres said the joining of OTR and Titan will solidify the businesses' manufacturing relationships globally for both wheels and tyres.
A statement from OTR noted: "The tyre services industry has recently seen a lot of consolidation, and this acquisition only strengthens our position in the market. Please be assured that the change will be virtually seamless and your business interactions between OTR Tyres and Titan Australia will continue as usual, with current points of contact remaining the same."
OTR management thanked both OTR and Titan vendors and their customers for the significant role they have played in the combined companies' success.
"For a business to thrive it need great service and supply and it is only as good as the people it serves, we certainly could not have reached this point today without your partnership," OTR said in the statement.