Labrie has signed an agreement to be acquired by Hiab

June 1, 2026, Lévis, Québec, Canada – Hiab Corporation, a leading provider of smart and sustainable on-road load handling solutions, significantly strengthens its position in the North American waste and recycling market by entering into an agreement to acquire Labrie Environmental Group. The acquisition is expected to be completed during the third quarter of 2026, subject to regulatory approval and customary closing conditions. It is an exciting step and a strong reflection of what we have built together — our products, our customer relationships, our reputation in the industry, and the commitment of our teams across the organization.

“Today is an important milestone for Labrie Environmental Group. By joining Hiab, we are gaining access to a comprehensive global platform that will accelerate our technology development and growth. I am incredibly proud of what we have built and excited for our next chapter. I and my entire leadership team are excited to continue as part of Hiab.”
— Michael Eastabrook, CEO, Labrie Environmental Group

About Hiab

Hiab has a strong presence in North America, and the company’s sales in the last fiscal year 2025 totalled approximately EUR 1.6 billion and it employs approximately 4,000 people. Following the completion of this transaction, Hiab’s geographic sales exposure to North America increases further, making North America an even stronger strategic focus.

Founded in 1944, Hiab has a long history of firsts, and their specialised brands often define the class they created. Our premium brands include HIAB, EFFER and ARGOS loader cranes, MOFFETT and PRINCETON truck-mounted forklifts, LOGLIFT and JONSERED specialized cranes, MULTILIFT demountables and hooklifts, GALFAB roll-off cable hoists, tail lifts under the ZEPRO, DEL and WALTCO brands as well as the service brand HIPERFORM, a comprehensive suite of smart solutions that help maximise the life-cycle value of Hiab’s equipment.

Hiab’s recipe for lifting customers’ productivity is based on a deep understanding of the needs of customers and users in the industries it operates in. With engaged people and partners, Hiab is committed to delivering the best customer experience every day. By prioritising employee experience, they empower teams to create innovative equipment, digital solutions and world-class services.

“The acquisition of Labrie Environmental Group is a milestone in our growth journey and perfectly aligned with our strategy. Labrie is a market leader in an attractive and growing market in one of our focus segments, waste and recycling. The acquisition also supports our ambitions to grow in North America, increase our service sales and it provides access to new resources and technologies for both companies. Importantly, the transaction is expected to strengthen cash generation immediately following closing while simultaneously opening new avenues for growth. We expect this transaction to deliver significant value for all stakeholders post-closing, including enhanced career opportunities for both Hiab and Labrie employees” said Hiab President and CEO Scott Phillips.

The rationale

The acquisition provides Hiab access to the growing North American RCV market through a leading platform with a strong track record of profitable growth. It represents the next step in Hiab’s inorganic growth strategy, aligned with its ambition to expand into new product verticals, and expand in stable, and predictable end markets, while establishing a new growth platform in North America. The synergy between the two companies is further enhanced by both companies’ robust aftermarket capabilities.

The acquisition diversifies Hiab’s sales exposure and is expected to be both margin- and growth-accretive with identified opportunities for procurement and sales synergies.

Next Steps

The acquisition is subject to regulatory approval and customary closing conditions, with an anticipated closing date in the third quarter of 2026.

For full information see the official Hiab Press Release

Please join us in celebrating this momentous step forward for Labrie and Hiab. We are excited about the future and look forward to sharing more updates as we work toward the anticipated closing of the deal later this year.