TTC · The Toro Company

Summary

On December 8, 2025, The Toro Company (TTC) completed its previously announced acquisition of Tornado, a publicly held manufacturer of vacuum trucks and industrial equipment based in Calgary, Alberta, for CAD $1.92 per share, totaling $279 million CAD in fully diluted equity value. On December 9, 2025, TTC's Board authorized a new stock repurchase program for up to 6,000,000 shares, increasing total authorization to 10,391,790 shares.

Key takeaways

• TTC completed acquisition of Tornado on December 8, 2025
• Tornado based in Calgary, Alberta, manufactures vacuum trucks and industrial equipment
• Acquisition price: CAD $1.92 per share for fully diluted equity value of $279 million CAD
• Financed with cash on hand, borrowings from unsecured senior revolving credit facility, and additional arrangements
• New stock repurchase authorization for 6,000,000 TTC common shares on December 9, 2025
• Total TTC share repurchase authorization: 10,391,790 shares as of December 9, 2025