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Toromont Industries Ltd.

Address 3131 Highway 7 West P.O. Box 5511, Concord, ON, L4K 1B7, CA
Website toromont.com

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Toromont announces acquisition of Hewitt Group

Toromont Industries Ltd., a diversified industrials company providing specialized capital equipment and ongoing support to customers in various sectors, today announced that it has entered into a definitive agreement to acquire the businesses and net operating assets of the Hewitt Group of companies in exchange for consideration of $917.7 million cash plus the issuance of 2.25 million Toromont shares (nominally $100 million based on 10 day average share price as at signing) for a total consideration of $1.0177 billion.