WASHINGTON (dpa-AFX) - Parker-Hannifin Corp. (PH) Thursday announced an agreement to acquire the commercial and defense aerospace business of Circor International, Inc. for $2.55 billion.
The purchase price, net of expected tax benefits, represents 22.7x Circor Aerospace's calendar year 2026 estimated adjusted EBITDA. Parker Hannifin, a Fortune 250 global leader in motion and control technologies said the acquisition is scheduled to close in the second half of calendar year 2026 and might immediately accretive to sales growth, EBITDA margins, adjusted earnings per share and cash flow.
Circor Aerospace designs, manufactures and supports highly engineered and proprietary flight-critical motion and flow control products for commercial aircraft and defense applications. It has production locations in the United States and EMEA.
Circor Aerospace estimates calendar year 2026 sales of approximately $270 million with adjusted EBITDA margins of more than 40% before synergies and anticipates double-digit sales growth over the next several years.
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