Parker Hannifin buys CIRCOR Aerospace from KKR for $2.55B

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Parker Hannifin has agreed to acquire CIRCOR Aerospace, the aerospace division of KKR-owned CIRCOR International, for $2.55 billion in cash, the companies said Thursday.

CIRCOR Aerospace makes fluid control, pneumatic, electromechanical, and actuation components and subsystems for commercial aerospace and defense markets. The deal is expected to close in the second half of 2026, subject to regulatory approvals and other closing conditions.

After the sale closes, CIRCOR's naval and industrial divisions will remain under KKR's ownership. The buyout firm paid roughly $1.6 billion, including debt, to take the entire company private in 2023, according to The Wall Street Journal.

KKR said it plans to continue growing CIRCOR's remaining businesses through organic expansion and acquisitions. The firm described the CIRCOR Aerospace sale as its fourth exit from an industrials investment this year.