Parker Hannifin (NYSE:PH) has agreed to acquire CIRCOR International's Commercial and Defense Aerospace business for $2.55 billion in cash.
The deal is a strategic move for the $108 billion market cap industrial giant, which generated $21 billion in revenue over the last twelve months.
The purchase price includes tax benefits with an estimated net present value of $75 million. Net of benefits, the price represents 22.7 times CIRCOR Aerospace's estimated 2026 adjusted EBITDA, or 18.2 times including expected cost synergies.
CIRCOR Aerospace produces flight-critical motion and flow control products for commercial aircraft and defense, with 2026 sales expected around $270 million and EBITDA margins exceeding 40%.
Jenny Parmentier: 'This is our latest strategic investment in longer cycle, higher growth, high margin businesses.'
The transaction is expected to close in the second half of calendar year 2026.
