Parker Hannifin Corporation (NYSE: PH) signed a definitive agreement on May 21, 2026, to acquire CIRCOR International’s Commercial and Defense Aerospace business. The company will pay KKR $2.55 billion in cash for the acquisition.
The transaction is expected to close during the second half of 2026. This deal integrates motion and flow control capabilities into the Parker aerospace portfolio.
CIRCOR Aerospace projects $270 million in sales for 2026. Revenues are split evenly between the commercial and defense sectors.
The consolidation strengthens Parker’s position in the aerospace and defense supply chain. Rising military modernization demands and geopolitical tensions drive this strategic move. The acquisition serves as a catalyst for defense-focused ETFs such as XAR.