Finnish-listed equipment manufacturer Hiab Oyj has agreed to acquire US refuse collection vehicle maker Labrie Environmental Group in a $1.04bn transaction, marking an exit for private equity firm Wynnchurch Capital from its first Fund V investment, according to a report by Bloomberg.
The deal strengthens Hiab’s exposure to the North American waste and recycling sector and expands its footprint across municipal and industrial equipment markets. Completion is expected in the third quarter of 2026, subject to customary approvals.
Labrie generated approximately $491m in revenue over the last twelve months to March 2026, with all sales derived from North America via its dealer network. The company operates four manufacturing facilities across the US, Canada and Mexico and employs around 1,200 people.
Hiab said it has secured acquisition financing through agreements with Danske Bank and OP Corporate Bank.
Wynnchurch Capital acquired Labrie in 2020 as the first platform investment in its Fund V. The sale underscores continued realisation activity among private equity sponsors in industrial and niche manufacturing assets, where strategic buyers remain active despite a selective M&A environment.
Hiab chief executive Scott Phillips said the acquisition is expected to deliver “significant value for all stakeholders post-closing,” as the group pursues growth through bolt-on and platform expansion in adjacent end markets.
