Parker Hannifin Corporation signed a definitive agreement to acquire CIRCOR International’s Commercial and Defense Aerospace unit for $2.55 billion in cash. The acquisition adds longer-cycle and high-margin businesses to Parker Hannifin’s portfolio.
CIRCOR’s aerospace division produces proprietary flight-critical motion and flow control components. The unit expects to generate $270 million in sales during the 2026 calendar year. Key aerospace and defense programs are projected to drive double-digit sales growth for several years.
The purchase price represents 18.2 times the unit’s estimated 2026 adjusted EBITDA. This multiple factors in expected tax benefits and cost synergies. The deal requires regulatory approval and should close in the second half of 2026.