Toro finalises $201 million acquisition

Photo: Tornado Infrastructure Equipment

Based in Alberta, Canada, Tornado Infrastructure Equipment manufactures heavy duty hydrovac trucks for the underground construction, power transmission and energy markets.

The company, which also provides heavy duty truck maintenance operations in central Alberta, generated net sales of approximately CAD$161 million (US$116 million) in its most recent financial year. 

Toro said the deal complements its construction product portfolio and capitalises on accelerated growth in vacuum excavation. 

Richard Olson, chairman and chief executive officer of Toro Company, said the addition of Tornado significantly strengthens its leadership in underground and enables the company to capture a greater share of the growing infrastructure space.

He said: “We have long regarded Tornado for their innovation in the marketplace, and we are pleased to welcome their talented team to The Toro Company and build on our continued success.

“We are confident that our combined commitment to innovation, operational excellence, and serving customers will further enhance our position in the industry.”

Moving forward, Toro expects to see annual run-rate cost synergies of USD$3 million over three years through purchasing and manufacturing efficiencies.