Hiab completes the acquisition of Labrie Environmental Group, Michael Eastabrook joins Hiab Leadership Team

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HIAB CORPORATION | Stock Exchange Release | 01 July 2026 16:30:00 EEST – Hiab has today completed the acquisition of Labrie Environmental Group (“Labrie”), a leading refuse collection vehicle manufacturer, announced on 1 June 2026 (“the Transaction”). The Transaction significantly strengthens Hiab’s position in the North American waste and recycling market. Labrie’s President and CEO, Michael Eastabrook, joins Hiab Leadership Team (“HLT”) as of today.

The all-cash transaction is valued at USD 1,035 million

Hiab has today, 1 July 2026, completed the Transaction after the required regulatory approval was received and customary closing conditions were met.

The Transaction is valued at USD 1,035 million on a cash and debt-free basis (approximately EUR 890 million calculated with end of May 2026 ECB exchange rates). The Transaction value represents a multiple of approximately 9.2x the company’s end of March 2026 LTM Comparable EBITDA. The Transaction was financed with bank loans and cash at hand.

Labrie will be included in Hiab’s financial reporting from the third quarter of 2026

The acquired operations will be included in Hiab’s financial reporting for the first time in the third quarter of 2026. Labrie’s sales for the last twelve-month period ended 31 March 2026 amounted to EUR 438 ⁽¹ million and comparable operating profit to EUR 74⁽² million. Labrie will form a fourth business area, Environmental Vehicle Solutions, within Hiab. However, Hiab will continue to have two reporting segments: Equipment and Services.

Please read the full press release from Hiab >>>