CIRCOR Aerospace, CIRCOR International’s aerospace division that makes flow-control and actuation systems for aerospace and defense, is being sold by KKR to Parker Hannifin in a $2.55 billion carve-out.

The unit has more than 75 years of heritage in fluid control, pneumatic, electromechanical and actuation components and subsystems for commercial aerospace and defense customers.

KKR acquired CIRCOR International for $1.8 billion in 2023 through its North America Fund XIII and will retain the company’s Naval and Industrial businesses after the separation.

Parker Hannifin adds complementary product portfolios and platform exposure in aerospace and defense.

LLC and Evercore advised KKR and CIRCOR as financial advisors, with Kirkland & Ellis LLP as legal advisor.

The deal is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals.