Toro agrees to acquire Tornado Infrastructure for CAD $279M ($1.92/share)

TORO CO

Total fully diluted equity value of CAD $279 million; CAD $1.92 per share.
Expected close in Toro's fiscal Q1 2026; subject to Tornado shareholder and regulatory approvals.
No financing condition; funded from cash on hand, revolving credit facility, or other financing.
Tornado supplies vacuum trucks and industrial equipment for underground construction, power transmission, and energy markets.
Customary termination rights apply; deal must close by February 6, 2026.

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