Finland's Hiab to buy Canadian garbage truck maker Labrie for $1 billion

Hiab Oyj

01/06/2026 07:42

June 1 (Reuters) - On-road load-handling equipment maker Hiab HIAB.HE has agreed to buy a North American garbage truck maker Labrie Environmental Group for about $1 billion, the Finnish company said on Monday.
The acquisition, which would enable Hiab to establish a new growth platform in North America, is expected to strengthen cash generation immediately after the deal is closed, it said.
The sellers are Wynnchurch Capital L.P. and management minority shareholders of Labrie
The transaction is valued at $1.035 billion on a cash and debt-free basis
The deal is expected to be closed during the third quarter of 2026, subject to regulatory approvals and customary closing conditions
Hiab has entered into a committed financing arrangement with Danske Bank and OP Corporate Bank to secure financing for the deal
Labrie is a Canada-based maker of refuse collection vehicles that operates four manufacturing sites across Canada, the U.S. and Mexico for Labrie, Wittke and Leach brands
For the twelve months through March, it generated sales of $491 million and comparable EBITDA of $113 million, representing 23% of sales
Growing its North American business is an essential part of Hiab's strategy

(Reporting by Izabela Niemiec in Gdansk, editing by Milla Nissi-Prussak)
((izabela.niemiec@thomsonreuters.com))