Webster Parish Journal Staff Report
Fibrebond Corporation announced Tuesday it has entered into a definitive agreement to be acquired by Eaton Corporation for $1.4 billion. While Fibrebond is headquartered in Minden, Eaton calls in Dublin, Ireland its home base.
Fibrebond, Minden’s largest employer, manufactures and integrates electrical modules that power the data center, industrial, and utility sectors. The company utilizes intelligent design and automation to transform complex construction into a simplified manufactured form. Later this year, Fibrebond is completing a $150 million expansion on its Louisiana campus. Fibrebond transports its modules to infrastructure projects across the country.
“We stand firmly at the intersection of massive technological shifts. Our accelerating digital infrastructure work now drives industrial and utility growth,” said Graham Walker, President and Chief Executive Officer of Fibrebond. “Our customers build at a scale we did not foresee even a few years ago. Our team has kept up with the growth while retooling for even greater scale. Today more than ever, our customers value the delivery and cost certainty Fibrebond brings to their sophisticated projects.
“As a private, family-owned business for 43 years, we understand that credibility and trust empower our relationships with our customers, our employee team and our supplier partners,” he continued. “Not every company shares our values, but since 2015, Eaton has been a customer that honored their commitments. We are confident Eaton will carry our vision forward and create new opportunities for the Fibrebond team and our community.”
Minden Mayor Nick Cox said he was unaware of the Fibrebond sale until he received a text early Tuesday.
“Within about 5 minutes of getting that text, Fibrebond called me,” Cox said. “They wanted me to help them get the word out that this is going to be OK. It’s going to be a good deal.”
Cox said Eaton, a global company worth $111.5 Billion, will have even more money to invest in the community and the business than the Walker family.
“And they were doing a pretty awesome job,” he added.
Cox said Walker will be staying on the job, and that gives him a sense of peace about the sale.
“He is one of the leaders staying there, and he will be over the Minden branch,” said the mayor. “He said they will be investing even more money than they would without this acquisition taking place.”
Stephens is acting as financial advisor to Fibrebond. Latham & Watkins LLP and Jones Walker LLP are acting as legal advisors to Fibrebond.
Eaton is an intelligent power management company dedicated to protecting the environment and improving the quality of life for people everywhere. We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets.
Their company information says they are “guided by their commitment to do business right, to operate sustainably and to help their customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, They’re helping to solve the world’s most urgent power management challenges and building a more sustainable society for people today and generations to come.”
Founded in 1911 in New Jersey, Eaton has continuously evolved to meet the changing and expanding needs of our stakeholders. With revenues of nearly $25 billion in 2024, the company serves customers in more than 160 countries. For more information, visit http://www.eaton.com.
