The acquisition is mid-sized relative to Parker's $108B market cap (~2.4% enterprise value / market cap add), and the high-margin aerospace exposure is a strategic fit within Parker's existing aerospace portfolio. With accretive profile and synergies, the deal should be slightly positive for longer-cycle growth and margin mix. Monitor regulatory clearance timeline and any competing bids or antitrust conditions; H2 2026 close is typical for a middle-market aerospace deal.
Price Chart
Executive Summary
Parker-Hannifin acquires CIRCOR Aerospace for $2.55B cash, adding flight-critical motion/flow control capabilities for commercial and defense platforms. The target has $270M in expected CY2026 sales at >40% adjusted EBITDA margin, implying a 22.7x EBITDA multiple (18.2x including synergies). Deal is expected to close H2 2026.
Key Financial Metrics
Key Facts
- Cash purchase price of $2.55 billion, net of ~$75M NPV of expected tax benefits
- Purchase price represents 22.7x CY2026 estimated adjusted EBITDA, or 18.2x including expected cost synergies of ~10% of sales
- $270M expected CY2026 sales with >40% adjusted EBITDA margin before synergies
- Expected to close in second half of calendar year 2026
- 80% OEM business balanced 50/50 across commercial and defense
- Expected to be immediately accretive to sales growth, EBITDA margins, adjusted EPS and cash flow
- Target is the Commercial and Defense Aerospace business of CIRCOR International sold on a cash-free, debt-free basis
Financial Impact
$2.55 billion cash acquisition; 22.7x EBITDA multiple before synergies; target has $270M sales and >40% adjusted EBITDA margin; expected immediately accretive to Parker-Hannifin's growth, margins, EPS and cash flow
Risk Factors
- Regulatory approval could be delayed or conditioned, potentially pushing close beyond H2 2026
- Integration risk: CIRCOR Aerospace margins (>40%) need to be maintained post-close; synergy capture of ~10% of sales is ambitious
- Double-digit sales growth at the target relies on commercial and defense program positions, which could be disrupted by geopolitical or supply-chain issues
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3299438 |
Track record builds as more directional reports settle.
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| Type | Now | ||||
|---|---|---|---|---|---|
Sep 9, 2026 23d ago | 424B5 | $949.47 $935.27 | ▼ −1.50% | ▼ −1.16% | $972.96 (+2.47%) |
Aug 24, 2026 5w ago | S-3ASR | $1,016.31 $952.09 | ▼ −6.32% | ▼ −5.78% | $972.96 (−4.27%) |
Aug 20, 2026 6w ago | Press Release | $1,001.74 $995.02 | ▼ −0.67% | ▼ −1.14% | $972.96 (−2.87%) |
Aug 19, 2026 6w ago | Insider Cluster | $1,023.25 $1,039.49 | ▲ +1.59% | ▲ +1.97% | $972.96 (−4.92%) |
Aug 19, 2026 6w ago | Insider Cluster | $1,023.25 $1,039.49 | ▲ +1.59% | ▲ +1.97% | $972.96 (−4.92%) |
Aug 18, 2026 6w ago | Insider Cluster | $1,023.25 $1,039.49 | ▲ +1.59% | ▲ +1.97% | $972.96 (−4.92%) |
Aug 18, 2026 6w ago | Insider Cluster | $1,023.25 $1,039.49 | ▲ +1.59% | ▲ +1.97% | $972.96 (−4.92%) |
Aug 18, 2026 6w ago | Insider Cluster | $1,023.25 $1,039.49 | ▲ +1.59% | ▲ +1.97% | $972.96 (−4.92%) |
Aug 13, 2026 7w ago | Press Release | $1,058.87 $1,000.13 | ▼ −5.55% | ▼ −3.58% | $972.96 (−8.11%) |
Aug 6, 2026 8w ago | 8-K | $1,069.80 $1,058.87 | ▼ −1.02% | ▼ −2.23% | $972.96 (−9.05%) |
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