Eaton Corporation ( ETN ) , a global intelligent power management company, has agreed to acquire Fibrebond Corporation for $1.4 billion.

Based in Louisiana, Fibrebond specializes in modular power enclosures for data centers and industrial markets and is projected to generate approximately $378 million in revenue in the 12 months ended Feb. 28.

The acquisition is expected to contribute $110 million in adjusted EBITDA in 2025 and be earnings-per-share-neutral for Eaton that year. The deal is anticipated to close in the third quarter of 2025, pending customary closing conditions.

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Mike Yelton, president of Eaton’s Americas Region, Electrical Sector, highlighted Fibrebond’s strong engineering expertise and customer-centric approach, particularly in the multi-tenant data center space. “Its engineered-to-order power enclosures, in which equipment installation and testing procedures are performed off-site, enables customers to get up-and-running in less time and at a lower cost,” he said. “This full-service offering allows us to better serve our customers amid accelerating demand.”

Recently, Eaton’s board of directors declared a quarterly dividend of $1.04 per share, up 11% from the previous quarter. The dividend will be paid on March 28, to shareholders of record as of March 10.

Price Action: At the last check Tuesday, ETN shares were trading higher by 0.86% at $280 premarket.

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