PH · Earnings call · 2026Q2T · Full report
Acquisitions and Divestitures
Parker-Hannifin Corp · 2026-08-06 · Importance 72 · Surprise 60 · In source text
Parker completed the $1 billion acquisition of Curtis Instruments in September 2025 to enhance electrification capabilities, adding approximately 1.5% to fourth-quarter sales and 0.5% to fiscal 2027 sales. The company announced the pending acquisition of Filtration Group Corporation in November, which would expand proprietary filtration technologies and increase filtration aftermarket exposure by 500 basis points. Parker also announced the pending acquisition of CIRCOR's commercial aerospace and defense business in May, adding complementary flight-critical capabilities. Both pending acquisitions are expected to close in the second half of calendar 2026, subject to customary conditions and regulatory clearances, and management said the transactions are included in the fiscal 2031 margin targets.
Key facts
- Announced nearly $12 billion for the acquisitions of Filtration Group Corporation and CIRCOR's aerospace and defense business (combined)
- FY '27 guidance excludes any impact from pending Filtration Group or CIRCOR acquisitions
- Filtration Group Corporation pending acquisition announced in November and built to increase Parker's filtration aftermarket by 500 basis points
- Pending acquisition of CIRCOR's commercial aerospace and defense business announced in May
- Completed the $1 billion acquisition of Curtis Instruments
- Curtis Instruments acquisition completed in September (prior September) for approximately $1 billion (completed)
- Over $15 billion in announced and deployed capital in fiscal year '26
- Management expects to close Filtration Group and CIRCOR during the second half of the calendar year (first half of Parker's fiscal year), subject to regulatory clearances
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | +0.4% | Previously completed acquisitions (primarily Curtis) add approximately 0.5% to FY '27 sales |
| assets | positive | probable | — | Announced nearly $12 billion for the acquisitions of Filtration Group Corporation and CIRCOR's aerospace and defense business (combined) |
| assets | positive | realized | — | Completed the $1 billion acquisition of Curtis Instruments |
| cash | negative | realized | — | Over $15 billion in announced and deployed capital in fiscal year '26 |
| assets | positive | probable | — | Management expects to close Filtration Group and CIRCOR during the second half of the calendar year (first half of Parker's fiscal year),… |