Overview
- Eaton acquired Fibrebond for about $1.7 billion, and roughly $240 million—15% of the sale—was reserved for approximately 540 full-time employees who did not hold equity.
- Average awards are about $443,000 per worker, structured as retention bonuses with larger amounts for longer-tenured staff and paid over several years.
- Eaton is administering the payouts in scheduled installments, with the first payments sent in mid-2025 and distributions continuing under the retention terms.
- Walker said the employee provision was non-negotiable to reward loyalty and stabilize operations after the sale; he is set to leave the company on December 31.
- Fibrebond’s rapid growth followed a $150 million pivot into data-center power infrastructure, with sales rising nearly 400% in five years, and recipients report life-changing uses of the money that lifted local spending in Minden, Louisiana.