Parker-Hannifin Buys $2.55B Flight-Critical Systems Business

Parker-Hannifin Corporation (NYSE:PH) shares are trading lower on Thursday as the company is moving forward with an acquisition of KKR & Co.-owned (NYSE:KKR) CIRCOR International‘s Commercial and Defense Aerospace business for $2.55 billion.

Deal Terms

The cash deal value includes expected tax benefits with a net present value of about $75 million.

On a net basis, including tax benefits, the price represents around 22.7x CIRCOR Aerospace's estimated 2026 adjusted EBITDA, or 18.2x when factoring in projected cost synergies of around 10% of 2026 sales.

The company expects the deal to close in the second half of calendar 2026, subject to regulatory and customary approvals.

As of March 31, Parker Hannifin had $476 million in cash.

Synergies & Benefits

The acquisition adds complementary capabilities in flight-critical motion and flow control systems, strengthening the portfolio with proprietary technologies for current and next-generation commercial ...

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Parker-Hannifin Buys $2.55B Flight-Critical Systems Business

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