Overview
- Power-management company Eaton agreed to buy the Louisiana-based manufacturer for about $1.7 billion.
- Roughly $240 million—15% of the sale proceeds—was set aside for employees, averaging about $443,000 per full-time worker.
- Payouts are scheduled over five years and are contingent on remaining employed, with initial distributions already made, including envelope handouts in June.
- Workers in Minden report paying off mortgages, purchasing vehicles, funding education and, in some cases, retiring immediately.
- Graham Walker made the employee bonus a non-negotiable term in negotiations and plans to step down as CEO on January 31, 2026.