Parker Hannifin agreed to acquire Circor Aerospace from KKR for approximately $2.55 billion. The transaction combines two complementary aerospace and defense suppliers to create a more diversified entity. KKR will retain ownership of Circor’s industrial and naval divisions.
The acquisition bolsters Parker Hannifin’s aerospace division by expanding its portfolio capabilities and platform exposures. This move underscores ongoing consolidation within the aerospace and defense supply chain, a key theme for sector investors.
Parker Hannifin expects the transaction to close in the second half of 2026. The deal remains subject to regulatory approvals and customary closing conditions.
U.S. markets remained closed for Memorial Day on May 25, 2026, during the announcement. There was no immediate market reaction to the news.