I did look at a peak switching SSR, but after seeing the price, quickly abandoned that idea.
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I'll probably just go for a contactor. The E-stop relay in this machine did power the original drive power transformer, but it was a 300VA aprox. <mind has gone blank, but square iron/steel type> transformer. So not only was it smaller, it wouldn't have the same power on surge as a toroid.
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The toroid will be controlled via the E-stop circuit, which runs on 24VDC, but I think it's not that large a supply. I meant to check it's output today, along with the E-stop relay rating but forgot. Last thing I want is it to cause a brownout when the contactor gets powered up, as the 24V also powers various sensors.
However, having just checked the wiring diagram, I could always just use a 230VAC contactor...