Toro completes $279 million acquisition of Tornado Infrastructure Equipment
The Toro Company has completed its acquisition of Tornado Infrastructure Equipment Ltd., adding a leading hydrovac excavation equipment manufacturer to its underground construction portfolio. Tornado, headquartered in Calgary, Alberta, designs and manufactures vacuum excavation solutions used across underground construction, power transmission and energy markets.
Toro said the acquisition strengthens its position in the growing hydrovac and soft-excavation segment, complementing its existing underground brands, including Ditch Witch. The company cited continued infrastructure investment and increasing demand for safer excavation methods around buried utilities as key drivers behind the deal.
Under the terms of the transaction, Toro acquired Tornado for approximately CAD $279 million, financed through debt and existing credit facilities. Tornado reported approximately CAD $161 million in net sales over the trailing 12 months ended Sept. 30, 2025. Toro expects the transaction to be marginally accretive to adjusted earnings per share in the first year and increasingly accretive thereafter.
Toro anticipates annual run-rate cost synergies of approximately $3 million (USD) within three years through purchasing and manufacturing efficiencies, along with longer-term revenue and working capital benefits. The company plans to provide further guidance on the acquisition’s financial impact during its fourth-quarter earnings call in December.
Related: Infrastructure business roundup: New deals, leadership changes and technology updates
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