Parker Hannifin agreed on 21 May 2026 to buy CIRCOR International's Commercial and Defense Aerospace business for $2.55bn in cash.
Why Parker-Hannifin Corporation is buying CIRCOR Aerospace (CIRCOR International's Commercial and Defense Aerospace business)
Parker chief executive Jenny Parmentier called the deal its latest investment in longer-cycle, higher-growth, high-margin businesses. CIRCOR Aerospace supplies fluid-control, pneumatic and actuation components to commercial aircraft and defence programmes, including missile systems and naval platforms.
“This transaction represents our latest strategic investment in longer cycle, higher growth, high margin businesses aligned with our continuous focus on delivering top-quartile financial performance.”
Deal terms and financing
The price is on a cash-free, debt-free basis and includes expected tax benefits with a net present value of about $75m. Parker expects cost synergies of about 10% of the unit's projected 2026 sales and is funding the deal with new debt, including commercial paper, and cash.
Regulatory approvals and timing
Closing requires regulatory approvals and was expected in the second half of 2026. A Parker filing on 10 September 2026 still described the acquisition as pending.
Market context
KKR bought CIRCOR for about $1.8bn in 2023 and will keep its naval and industrial businesses.
