KKR and CIRCOR International announced that they have signed a definitive agreement to sell CIRCOR Aerospace, the company’s aerospace division, to Parker Hannifin for $2.55 billion. KKR originally acquired CIRCOR for $1.8 billion in 2023 and will continue to retain ownership of the company’s Naval and Industrial businesses.
CIRCOR Aerospace has more than 75 years of experience in fluid control, pneumatic, electromechanical, and actuation components and subsystems. The business has built a strong position across commercial aerospace and defense markets through its mission-critical products, engineering capabilities, and long-term customer relationships. The combination with Parker Hannifin is expected to create a larger and more diversified aerospace and defense supplier with expanded scale and complementary product portfolios.
The transaction highlights KKR’s investment focus on themes such as defense modernization and supply chain resilience. KKR noted that CIRCOR’s Naval business and other industrial investments will continue providing exposure to strategically important markets.
CIRCOR also emphasized its employee ownership initiative launched in early 2024, which made all employees owners of the company. Upon completion of the transaction, employees will receive a dividend distribution funded by part of the sale proceeds in recognition of the strong performance of the Industrial and Naval businesses.
Goldman Sachs & Co. LLC and Evercore served as financial advisors to KKR and CIRCOR, while Kirkland & Ellis LLP acted as legal advisor. The transaction is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals.
Founded in 1999, CIRCOR International designs, manufactures, and markets flow control products and subsystems for aerospace, defense, and industrial customers. The company operates globally with approximately 3,500 employees and serves more than 14,000 customers across about 100 countries.
KEY QUOTES:
“Today’s announcement marks an exciting chapter for CIRCOR and reflects the tremendous work and dedication of the entire CIRCOR Aerospace team. With KKR’s support, the business strengthened its culture of ownership and execution, accelerating performance, and further establishing CIRCOR Aerospace as a world-class solution provider for our customers. We are pleased with the strong foundation the team has established and look forward to watching the business continue to grow as part of Parker Hannifin. In our next phase, we at CIRCOR remain dedicated to strengthening the Company’s Industrial and Naval businesses through both organic growth and strategic acquisitions.”
Saif Siddiqui, Chief Executive Officer, CIRCOR
“CIRCOR Aerospace has created a highly differentiated business with proprietary solutions and deep customer relationships across critical aerospace and defense programs, and we are grateful for everything they have achieved under our ownership. This latest transaction underscores continued momentum across our industrials portfolio, marking our fourth realization in the sector this year.”
Josh Weisenbeck, Partner At KKR
