Hiab agreed on 1 June to acquire Labrie Environmental Group, a refuse collection vehicle manufacturer based in Lévis, Quebec, for $1,035m on a cash and debt-free basis.
Why Hiab Corporation is buying Labrie Environmental Group
Hiab presented the deal as a step in its inorganic growth strategy, giving it access to the North American refuse collection vehicle market. Labrie becomes a new business area, Environmental Vehicle Solutions.
Deal terms and financing
The price equals about 9.2 times Labrie's comparable EBITDA for the 12 months to March 2026 and was financed with bank loans and cash on hand. Labrie's chief executive Michael Eastabrook joined Hiab's leadership team.
Regulatory approvals and timing
Hiab completed the transaction on 1 July 2026 after receiving regulatory approval. Labrie is consolidated from the third quarter of 2026 and Hiab kept its 2026 outlook unchanged.
Market context
Hiab continues to report two segments, Equipment and Services. Dakota listed the deal among the ten largest industrial transactions of June 2026.
