Hiab announced an agreement to acquire Labrie Environmental Group for an enterprise value of $1.035 billion, significantly strengthening its position in the North American waste and recycling market. The deal adds a leading refuse collection vehicle manufacturer to Hiab’s portfolio and aligns with the company’s strategy of expanding into adjacent product categories and increasing its presence in North America.
Founded in 1971 and headquartered in Lévis, Quebec, Labrie is a major North American provider of refuse collection vehicles through its Labrie, Wittke, and Leach brands, while also offering aftermarket parts and services through LabriePlus. The company has established a strong position in the side-loader segment, generating $491 million in sales and $113 million in comparable EBITDA during the 12 months ended March 2026.
Hiab said the acquisition is expected to be both growth and margin accretive, while diversifying revenue streams, reducing cyclicality, and strengthening cash generation. The transaction is expected to close during the third quarter of 2026, subject to regulatory approvals and customary closing conditions. Financing has been secured through committed arrangements with Danske Bank and OP Corporate Bank.
The acquisition creates a new growth platform for Hiab in the waste and recycling sector, one of the company’s strategic focus areas. Labrie operates approximately 1,200 employees and maintains manufacturing facilities across Canada, the United States, and Mexico, providing Hiab with expanded manufacturing capacity and access to new technologies and customer relationships.
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“This acquisition is an important milestone in our growth journey and is closely aligned with the profitable growth strategy we announced in 2024. Labrie is a market leader in waste and recycling, one of Hiab’s four focus segments, and this transaction supports our goals to expand in North America and increase services sales.”
“The acquisition will provide access to new resources and technologies for both companies and create value for stakeholders after closing, including enhanced career opportunities for employees of both Hiab and Labrie.”
Scott Phillips, President and CEO, Hiab
“Joining Hiab will give Labrie access to a broader global platform that can accelerate its technology development and future growth.”
Michael Eastabrook, CEO, Labrie Environmental Group
