en.Wedoany.com Reported - Finnish load handling solutions provider Hiab Corp. has announced that it has reached an agreement to acquire refuse collection vehicle (RCV) manufacturer Labrie Environmental Group for an enterprise value of approximately $1.04 billion.

Founded in 1971 and headquartered in Lévis, Quebec, Canada, Labrie Environmental Group owns three established brands—Labrie, Wittke, and Leach—and offers aftermarket parts and services under the LabriePlus brand. According to Hiab, the company has achieved growth and established a leading position in the side-loader market. For the twelve months ending March 2026, Labrie reported sales of $491 million.

All of Labrie's sales in North America are conducted through a dealer network, covering equipment, spare parts, and services. The company operates four manufacturing facilities in Canada, the United States, and Mexico, employing approximately 1,200 people.

Labrie CEO Michael Eastabrook stated that joining Hiab will provide the company with a comprehensive global platform to accelerate technology development and growth. Hiab President and CEO Scott Phillips noted that this acquisition is a significant milestone in the company's growth journey and aligns with the profitable growth strategy communicated in 2024. Labrie is a market leader in an attractive and growing market within the key focus area of waste and recycling. The acquisition also supports Hiab's ambition to grow in North America and increase service sales.

Hiab stated that this acquisition allows it to enter the North American RCV market, helping to diversify sales risk and reduce cyclicality. It is expected to generate value-added effects in terms of profit and growth, with identified synergy opportunities in procurement and sales. The transaction is valued at approximately $1.04 billion (on a cash-free, debt-free basis) and is expected to close in the third quarter of 2026.

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