TORO CO (TTC): M&A transaction — Toro completes $279M CAD acquisition of Tornado; authorizes new 6M share buyback

TORO CO

Completed acquisition of Tornado Infrastructure Equipment Ltd. for CAD $1.92/share, total equity value $279M CAD.
Tornado manufactures vacuum trucks for underground construction, power transmission, and energy markets.
Acquisition financed with cash on hand, borrowings from credit facility, and other arrangements.
Board authorized new stock repurchase program of up to 6M shares with no expiration date; total authorization now ~10.4M shares.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

TORO CO completed an acquisition involving Tornado Infrastructure Equipment Ltd. for CAD $1.92 per share for a total fully diluted equity value of $279 million (CAD), which was financed with cash on hand, borrowings from TTC’s unsecured senior r (closed 2025-12-08).

Action: acquisition
Counterparty: Tornado Infrastructure Equipment Ltd.
Consideration: CAD $1.92 per share for a total fully diluted equity value of $279 million (CAD), which was financed with cash on hand, borrowings from TTC’s unsecured senior r
Closing: 2025-12-08

Exact text from the filing

to the Purchaser (free and clear of all liens), and Tornado became a wholly-owned subsidiary of the Purchaser. TTC purchased all outstanding shares of Tornado for CAD $1.92 per share for a total fully diluted equity value of $279 million (CAD), which was financed with cash on hand, borrowings from TTC’s unsecured senior revolving credit facility, and

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Source: SEC EDGAR

accession 0001628280-25-056159

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