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Hiab Strengthens Its Position in Waste & Recycling by Acquiring Labrie Environmental Group
Hiab Corporation significantly strengthens its position in the North American waste and recycling market by entering into an agreement to acquire refuse collection vehicle manufacturer Labrie Environmental Group from Wynnchurch Capital, L.P. and management minority shareholders. Formed in 1971 and headquartered in Lévis, Quebec, Labrie Environmental Group is a leading North American provider of RCVs, operating across 3 established brands: Labrie, Wittke and Leach. It also provides aftermarket parts and services through its LabriePlus brand. The company has demonstrated resilient growth and built a leading market position in the attractive side loader market. The company generates all its sales in North America from equipment, spare parts and services, sold through its dealer network. The company operates 4 manufacturing sites across Canada, the U.S. and Mexico, and employs approximately 1,200 people. The acquisition provides Hiab access to the growing North American refuse collection 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 its presence in existing end-markets through adjacent product verticals, while establishing a new growth platform in North America. The combined capabilities of the 2 companies represent a perfect technological and mission fit with complementary offerings in the essential industry of waste and recycling. The acquisition diversifies Hiab’s sales exposure, reduces cyclicality and is expected to be both margin- and growth-accretive with identified opportunities for procurement and sales synergies.
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