Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns run through The Toro's acquisitions — what it looks for, how it pays, and how it folds in what it buys.
17 acquisitions — each with the deal value, financing structure, target revenue, and executive commentary where disclosed.
Toro completed the purchase of the James Hardie Irrigation Group in December 1996 for about $119.0 million, initially funded with temporary bank debt that Toro planned to refinance with long-term public debt. The business supplied sprinkler heads and automatic electronic controllers for residential, commercial and golf-course irrigation, and brought Toro into agricultural micro-irrigation (drip tape, hose, emitters). Acquired product lines were rebranded under the Irritrol name and sold through both Toro and non-Toro irrigation dealers. Exact day of closing is not stated in the filing; month is disclosed as December 1996. approximately $119.0 million.
Effective November 1, 1997 Toro acquired Exmark Manufacturing Company of Beatrice, Nebraska, a maker of mid-sized walk-behind power mowers and zero-turn riding mowers for professional landscape contractors. Toro paid an initial ~$31.0 million by issuing 598,051 of its common shares plus about $5.5 million in cash, with additional contingent payments of up to $28.0 million payable if Exmark's earnings and sales growth through fiscal 1999 exceeded set thresholds. Exmark generated $53.4 million of net sales and $2.8 million of net earnings in its fiscal year ended August 31, 1997 and employed roughly 280 people. approximately $31.0 million initial (plus up to $28.0 million contingent earnout through Oct 31, 1999).
On February 8, 2005 Toro, through two newly formed UK/Guernsey subsidiaries, signed and simultaneously closed an asset purchase agreement for substantially all of the assets and certain liabilities of Hayter Limited for GBP 18,627,798 (about $34.6 million) in cash, subject to a working-capital adjustment. Hayter, based in Spellbrook, England, manufactured consumer and commercial mowing products, strengthening Toro's presence in the United Kingdom and Europe. GBP 18,627,798 (approximately $34.6 million).
In August 2007 Toro acquired the stock of Rain Master Irrigation Systems, Inc., a maker of irrigation central controllers and related products for the commercial landscape market. The deal value was not separately disclosed. Exact day of closing is not stated; the 10-K discloses the month as August 2007. Not disclosed (part of Toro's fiscal 2007 acquisitions).
On January 17, 2011 Toro acquired certain assets and liabilities of Unique Lighting Systems, Inc., a leading maker of professionally installed landscape-lighting fixtures and transformers for residential and commercial use, including the Signature, Odyssey and Brass & Copper Knight product lines. The individual price was not disclosed; Toro's total fiscal 2011 acquisitions aggregated about $24.15 million (cash, long-term notes and estimated earnouts). Not disclosed (within Toro's ~$24.15 million aggregate fiscal 2011 acquisitions).
On June 24, 2011 Toro acquired certain assets and assumed certain liabilities of Lawn Solutions Commercial Products, Inc., a manufacturer of turf-renovation equipment such as aerators, seeders, power rakes and brush cutters for the landscape, rental, municipal and golf markets. The individual price was not disclosed; total fiscal 2011 acquisitions aggregated about $24.15 million. Not disclosed (within Toro's ~$24.15 million aggregate fiscal 2011 acquisitions).
Announced October 27, 2014 and closed November 14, 2014, Toro acquired the BOSS professional snow-and-ice management business of privately held Northern Star Industries for about $227 million, paid mostly in cash with $30 million in the form of a three-year unsecured promissory note; the cash portion was funded from cash on hand and a new five-year unsecured revolving facility. Based in Iron Mountain, Michigan, BOSS designs, manufactures and sells snowplows, salt and sand spreaders and related parts for light and medium-duty trucks, ATVs, UTVs and loaders, with anticipated 2014 sales of roughly $125 million. approximately $227 million.
With the addition of BOSS to our existing market-leading professional contractor businesses, we are even better positioned to strengthen and grow our relationships with these important customers... We've long been interested in the professional snow and ice management category.Michael J. Hoffman — Chairman and CEO, The Toro Company
As a privately-held business in a smaller community, it is essential to us that BOSS transition to a company that not only is well-positioned to take us to the next level but also shares our commitment to innovation, customers, employees and the communities in which we live and work.David Brule II — President, BOSS
Effective January 1, 2017 (Toro's fiscal 2017 first quarter) Toro acquired all outstanding shares of privately held Regnerbau Calw GmbH, a German maker of professional irrigation equipment sold under the PERROT brand, funding the deal with existing foreign cash. The purchase price was not disclosed and Toro described the acquisition as immaterial. PERROT products serve sports-field, agricultural and industrial irrigation applications. Not disclosed (immaterial to Toro; funded with existing foreign cash).
Effective March 19, 2018 (Toro's fiscal 2018 second quarter) Toro acquired substantially all the assets and assumed certain liabilities of L.T. Rich Products, Inc., a manufacturer of professional zero-turn spreader/sprayers (Z-Spray), aerators, and snow-and-ice management equipment. Toro described the acquisition as immaterial and did not disclose the price. Not disclosed (immaterial to Toro).
Announced February 15, 2019 and completed April 1, 2019, Toro acquired privately held The Charles Machine Works, Inc. of Perry, Oklahoma — parent of the market-leading Ditch Witch brand and other underground-construction brands (including HammerHead, American Augers, Subsite, Trencor and Radius). The agreed price was $700 million in cash, subject to adjustments; the aggregate merger consideration was finalized at $685.0 million in Toro's fiscal fourth quarter of 2019. Toro funded the deal with a $500 million senior term-loan agreement plus revolver borrowings. Charles Machine Works generated calendar-year 2018 revenue of about $725 million and makes horizontal directional drills, trenchers, utility loaders, vacuum excavators, asset locators, pipe-rehabilitation solutions and after-market tools. $700 million announced; $685.0 million final purchase price (aggregate merger consideration after customary adjustments).
The addition of Charles Machine Works will further strengthen our portfolio of market-leading brands... it expands our business in a meaningful way in an adjacent category we know well... in a market that is attractive given the potential for growth in addressing both aging infrastructure... and new infrastructure... to support next generation technologies like 5G.Richard M. Olson — Chairman and CEO, The Toro Company
Under agreements dated January 20, 2020, Toro completed its acquisition of privately held Venture Products, Inc. of Orrville, Ohio on March 2, 2020, structured as a merger with a Toro subsidiary; a related agreement purchased the real estate used by the business. Preliminary consideration was $165.9 million (including a $29.5 million indemnity holdback), finalized at an aggregate $163.2 million after customary adjustments. Venture Products makes Ventrac-branded articulating turf, landscape and snow-and-ice equipment — including the 4500 all-wheel-drive articulating tractor with 30-plus attachments — for grounds, landscape-contractor, golf, municipal and rural-acreage customers. $163.2 million (aggregate merger consideration; ~$165.9 million preliminary).
During Toro's fiscal 2021 first quarter (completed November 4, 2020) Toro made the asset acquisition of Portugal-based Turflynx, Lda, a developer of autonomous solutions for turf management. Substantially all of the acquired value was in finite-lived developed-technology intangibles, and the deal was accounted for as an asset acquisition with no separately disclosed price. Not disclosed (accounted for as an asset acquisition).
Announced in March 2021 and completed during Toro's fiscal 2021 second quarter, Toro made the asset acquisition of Left Hand Robotics, Inc. of Longmont, Colorado, a developer of autonomous solutions for turf and snow management with patent-pending autonomous-navigation software. Terms were not disclosed. The exact closing day is not disclosed; the 10-K places completion in the fiscal 2021 second quarter (Feb-Apr 2021). Not disclosed (terms not disclosed; accounted for as an asset acquisition).
On January 14, 2022 Toro announced it had acquired privately held Intimidator Group of Batesville, Arkansas — maker of Spartan Mowers, a professional line of zero-turn mowers, plus a line of side-by-side utility vehicles — for $400 million, paid with cash on hand and short-term revolver borrowings. Regulatory approvals were already obtained, so the announcement coincided with completion. Intimidator's calendar-2021 net sales were about $200 million; Spartan has strong brand recognition in the southern U.S. and among rural and large-acreage customers via an established dealer network.
The addition of Spartan Mowers to our portfolio strategically positions us to be an even stronger player in the large and rapidly growing zero-turn mower market. Spartan's product lineup complements our innovative Exmark and Toro branded equipment...Richard M. Olson — Chairman and CEO, The Toro Company
The Toro Company has a rich history and proven track record of growing brands with the resources to fuel our future growth... we look forward to joining The Toro Company and continuing to provide best-in-class products and service to our customers.Robert and Becky Foster — Owners, Intimidator Group
Announced October 6, 2025 (8-K filed October 8) and completed December 8, 2025, Toro acquired publicly held Tornado Infrastructure Equipment Ltd. of Calgary, Alberta via a plan of arrangement, buying all outstanding shares for CAD $1.92 each, a fully diluted equity value of CAD $279 million and a roughly 4% premium to the prior close. Tornado is a leading manufacturer of vacuum-excavation (hydrovac) trucks and industrial equipment for underground construction, power-transmission and energy markets, with trailing-12-month net sales (to June 30, 2025) of about CAD $149 million. Toro's Ditch Witch division had partnered with Tornado since 2022 to co-develop Ditch Witch-branded hydrovac trucks. Toro financed the deal with cash on hand, revolver borrowings and additional financing and expects roughly $3 million (USD) of annual run-rate cost synergies over three years. CAD $279 million fully diluted equity value (CAD $1.92 per share); ~$3M USD annual run-rate cost synergies targeted.
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... This acquisition builds on the momentum in our Professional segment... and expands our underground construction product lineup while maintaining our disciplined approach to capital allocation.Richard Olson — Chairman and CEO, The Toro Company
Joining The Toro Company marks an exciting new chapter for Tornado... Toro's culture and values closely align with ours, and together we will deliver innovative solutions and exceptional service to customers across the above-ground and underground infrastructure industry worldwide.Brett Newton — President and CEO, Tornado Infrastructure Equipment
During fiscal 2008 Toro purchased the Turf Guard wireless soil-monitoring technology from JLH Labs, LLC, a specialist in wireless soil monitoring. The Turf Guard system measures soil moisture, salinity and temperature through buried wireless sensors that report to an internet server for web-based presentation. The purchase price was not disclosed individually; Toro's total fiscal 2008 acquisitions aggregated about $7.56 million ($4.43M cash + $3.13M long-term notes). Exact closing date within fiscal 2008 (Nov 2007-Oct 2008) is not disclosed, so no timeline date is asserted. Not disclosed (within Toro's ~$7.56 million aggregate fiscal 2008 acquisitions).
During fiscal 2010 Toro acquired certain assets and assumed certain liabilities of USPraxis, Inc., a manufacturer of stump grinders, wood chippers and log splitters for rental centers and landscape professionals. The individual price was not disclosed; total fiscal 2010 acquisitions aggregated about $9.14 million. Exact closing date within fiscal 2010 is not disclosed, so no timeline date is asserted. Not disclosed (within Toro's ~$9.14 million aggregate fiscal 2010 acquisitions).