Parker to Acquire CIRCOR's Commercial and Defense Aerospace Business

CLEVELAND, May 21, 2026 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies, today announced that it has entered into a definitive agreement to acquire the Commercial and Defense Aerospace business of CIRCOR International, Inc. on a cash-free, debt-free basis for a cash purchase price of $2.55 billion, which includes expected tax benefits with an estimated net present value of approximately $75 million. The purchase price, net of expected tax benefits, represents 22.7x CIRCOR Aerospace's calendar year 2026 estimated adjusted EBITDA, or 18.2x including expected cost synergies of approximately 10% of calendar year 2026 estimated sales. The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals, and is expected to close in the second half of calendar year 2026.