Eaton, led by Black executive Craig Arnold, to acquire Fibrebond for $1.4 billion

Key Points

• Eaton Corp. will acquire Fibrebond to expand its data center and industrial market presence, expecting $110 million in adjusted EBITDA for 2025.
• It will enhance Eaton’s modular power enclosure capabilities, supporting mission-critical infrastructure with off-site testing to reduce costs and downtime.
• Fibrebond is projected to generate $378 million in revenue for 2025. The acquisition is expected to close in Q3 2025, pending regulatory approval.  

Eaton Corp., a power management company led by Craig Arnold—one of the richest Black executives in the U.S.—has reached an agreement to acquire Fibrebond Corporation, a leading provider of pre-integrated modular power enclosures for $1.4 billion.

The deal, subject to regulatory approval, will expand Eaton’s presence in the data center and industrial markets. The acquisition is expected to contribute approximately $110 million in adjusted EBITDA for the 2025 fiscal year.

Strengthening data center capabilities

Fibrebond, based in Minden, Louisiana, specializes in power enclosures that support mission-critical systems for data centers, utilities, and industrial customers. Its off-site equipment installation and testing process helps clients cut costs and minimize downtime—an advantage in industries where reliability is essential.

Eaton sees this acquisition as a way to enhance its ability to deliver integrated, turnkey solutions for the growing demand in data centers and industrial infrastructure. Mike Yelton, President of Eaton’s Americas Region, Electrical Sector, highlighted Fibrebond’s strong engineering expertise and customer-driven approach. “Fibrebond’s expertise in engineered-to-order power enclosures enhances our ability to serve customers in a highly competitive and expanding market,” Yelton said.

Fibrebond is projected to generate $378 million in revenue for the fiscal year ending February 28, 2025. The acquisition is expected to close in the third quarter of 2025, pending regulatory approvals and customary closing conditions. Eaton anticipates the deal will have a neutral impact on its earnings per share in 2025.

A legacy of innovation and leadership

Founded in 1911, Eaton has been a leader in power management solutions, expanding globally across key industries, including data centers, utilities, aerospace, and mobility. Under the leadership of CEO Craig Arnold, who took over in 2016, the company has maintained steady growth and strategic expansion.

Arnold, one of the wealthiest Black executives in the U.S., holds a 0.14 percent stake in Eaton—737,044 shares valued at over $200 million—reinforcing his long-term commitment to the company’s success. In 2024, Eaton reported $24.88 billion in revenue, with strong performances across its Electrical Americas, Electrical Global, and Aerospace segments.

Beyond acquisitions, Eaton continues to secure major contracts, including a recent $20 million deal to power Albany’s semiconductor innovation hub. As the data center market expands, the acquisition of Fibrebond strengthens Eaton’s position as a leader in power management, setting the stage for long-term growth in an increasingly digital world.