Hiab has agreed to acquire Canadian refuse collection vehicle manufacturer Labrie Environmental Group in a deal valued at approximately $1.04 billion, marking one of the company’s biggest acquisitions as it expands deeper into the North American waste and recycling market, as reported by Bloomberg and MarketScreener.
According to Hiab, the all-cash transaction values Labrie at $1.035 billion on a cash- and debt-free basis. Labrie, headquartered in Lévis, Quebec, operates through the Labrie, Wittke, and Leach brands and is regarded as a major player in North America’s refuse collection vehicle industry. For the 12 months ending March 2026, the company generated revenue of about $491 million and comparable EBITDA of $113 million.
Hiab said the acquisition will provide a new growth platform in North America while strengthening its presence in the waste and recycling sector, one of the company’s strategic focus markets. Chief Executive Scott Phillips described the deal as a significant milestone in Hiab’s long-term profitable growth strategy and said it would immediately strengthen cash generation while creating opportunities for future expansion.
The acquisition is expected to close during the third quarter of 2026, subject to regulatory approvals and customary closing conditions. Industry analysts say the deal reflects growing investor interest in waste management infrastructure, recycling equipment, and environmental services as governments and businesses increase spending on sustainability and circular economy initiatives across North America.
