Parker Hannifin Corporation has entered into a definitive agreement to acquire the Commercial and Defense Aerospace business of CIRCOR International, Inc in a transaction valued at $2.55 billion. The acquisition strengthens Parker’s position in the aerospace and defense sector by adding advanced motion and flow control technologies designed for mission-critical aircraft applications.
The transaction, structured on a cash-free and debt-free basis, includes expected tax benefits with an estimated net present value of approximately $75 million. Subject to regulatory approvals and customary closing conditions, the acquisition is expected to be completed during the second half of calendar year 2026. CIRCOR Aerospace specializes in the design, manufacture, and support of highly engineered flight-critical systems and proprietary technologies used in both commercial aviation and defense programs. The business operates manufacturing facilities across the United States and the Europe, Middle East, and Africa region, supporting major aerospace platforms globally.
According to company estimates, CIRCOR Aerospace is expected to generate approximately $270 million in sales in calendar year 2026 while maintaining adjusted EBITDA margins exceeding 40 percent before synergies. The business also anticipates strong double-digit sales growth over the coming years, supported by participation in several high-profile aerospace and defense programs.
Parker Hannifin said the acquisition aligns with its strategy of investing in higher-growth, higher-margin businesses that complement its existing capabilities and support long-term financial performance. The addition of CIRCOR Aerospace is expected to expand Parker’s product portfolio and deepen its relationships with aerospace and defense customers worldwide.
Jenny Parmentier, Chairman and Chief Executive Officer of Parker Hannifin, said the acquisition represents another strategic step in strengthening the company’s presence in attractive long-cycle markets. She noted that CIRCOR Aerospace brings complementary technologies and specialized engineering capabilities that will enhance Parker’s ability to support customers across critical aerospace and defense applications.
Mr Parmentier added that Parker plans to leverage its operational framework, known as The Win Strategy™, to accelerate growth opportunities, improve efficiency, and deliver additional value through operational synergies following completion of the transaction.
Tony Najjar, Vice Chairman of CIRCOR, said the combination will create a stronger platform for serving aerospace and defense customers by bringing together complementary technologies and engineering expertise. He emphasized that the partnership with Parker will provide employees and customers with access to broader capabilities, operational excellence, and enhanced innovation opportunities.
Financial advisory services for Parker are being provided by Guggenheim Securities, LLC while Jones Day is acting as legal counsel. Goldman Sachs & Co. LLC and Evercore are serving as financial advisors to CIRCOR Aerospace, with Kirkland & Ellis LLP providing legal counsel.
For more than a century, Parker Hannifin has been a Fortune 250 company recognized as a global leader in motion and control technologies. Through continuous innovation and engineering excellence, Parker enables breakthroughs that help build a better, more sustainable future.
