Articles from Tornado Infrastructure Equipment Ltd.

CALGARY, Alberta, May 15, 2025 (GLOBE NEWSWIRE) -- Tornado Infrastructure Equipment Ltd. (“Tornado” or the “Company”) (TSX-V: TGH; OTCQX: TGHLF), a leading manufacturer of specialized infrastructure and excavation equipment, is pleased to announce the closing of the acquisition (the “Acquisition”) of all the issued and outstanding shares in the capital of Custom Vacuum Services Ltd. (“CustomVac”) from 2624795 Alberta Ltd., an arm’s length party (the “Vendor”), pursuant to a share purchase agreement signed and dated today, among the Company, CustomVac and the Vendor, for an aggregate purchase price of $28,000,000 (the “Purchase Price”) paid in cash, subject to customary closing adjustments. CustomVac was founded in 2000 and is located in Nisku, Alberta. CustomVac manufactures and services truck-mounted and semi-trailer mounted vacuum equipment, both for the oil and gas, and the utilities, excavation, environmental and safety sectors in Canada.

Net Income Per Share (diluted) Increased by 37.7% Compared to 2023