Toro to acquire Tornado Infrastructure Equipment

The Toro Company has entered into a definitive agreement to acquire publicly held Tornado Infrastructure Equipment Ltd., a manufacturer in the vacuum truck industry.

The transaction is subject to certain antitrust and other regulatory approvals, approval by Tornado’s security holders, and other customary closing conditions, and is currently anticipated to close during The Toro Company’s fiscal 2026 first quarter. Toro will purchase all of the outstanding shares of Tornado for $1.92 per share (CAD), or a fully diluted equity value of $279 million (CAD), and said it intends to finance the acquisition with debt from existing credit facilities and additional financial arrangements.

The Tornado F4 Rural hydrovac truck is designed for long hauls. (Photo: Tornado Infrastructure Equipment)

“We continue to strengthen our business and product portfolio by divesting non-core assets and shifting resources toward markets with strong growth drivers like infrastructure,” said Richard Olson, chairman and chief executive officer of The Toro Company. “This acquisition builds on the momentum in our Professional segment, which represented nearly 80 percent of our fiscal 2024 new sales, and expands our underground construction product lineup while maintaining our disciplined approach to capital allocation.”

Based in Calgary, Alberta, Canada, Tornado Infrastructure Equipment is a manufacturer of vacuum trucks and industrial equipment solutions for the underground construction, power transmission and energy markets. With a combination of power, precision and payload capacity, Tornado products are designed to excavate in urban areas and around critical infrastructure using a combination of high-pressure water or air, and a vacuum system to minimize the risk of utility damage.

During the trailing 12 months ended June 30, 2025, Tornado Infrastructure Equipment generated net sales of approximately $149 million (CAD).

In 2022, The Toro Company’s Ditch Witch Div. entered into a strategic supply agreement with Tornado Infrastructure Equipment to co-develop an exclusive line of Ditch Witch-branded hydrovac trucks to expand its product offering and capitalize on accelerated growth in vacuum excavation.

“Tornado Infrastructure Equipment is well recognized in the industry for its market-leading innovation and commitment to meeting the critical needs of customers in the greater infrastructure space,” said Peter Moeller, group vice president, Underground and Specialty Construction at The Toro Company. “This acquisition will help expand both our geographical footprint and product range to better serve customers facing complex projects in energy, power transmission, and water infrastructure. Having partnered with the Tornado team since 2022, we have a great history and respect for the Tornado team, and we look forward to working together to further our leadership position within construction.”

Tornado has sold more than 1,900 hydrovacs ince 2008. Originally known as Tornado Global Hydrovacs Ltd. the company rebranded in late 2024 to align with a strategic vision and expansion into the United States. Tornado designs and manufactures hydrovac trucks as well as provides heavy duty truck maintenance operations in central Alberta.