(RTTNews) - The Toro Company (TTC) has entered into a definitive agreement to acquire publicly held Tornado Infrastructure Equipment Ltd., a manufacturer in the vacuum truck industry. Based in Calgary, Alberta, Tornado Infrastructure Equipment is a manufacturer of vacuum trucks and industrial equipment solutions for the underground construction, power transmission and energy markets.
The Toro Company will purchase all of the outstanding shares of Tornado Infrastructure Equipment for C$1.92 per share, or a fully diluted equity value of C$279 million, and plans to finance the acquisition with debt from existing credit facilities and additional financial arrangements.
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