Parker-Hannifin completes $1 billion acquisition of Curtis Instruments

CLEVELAND - Parker-Hannifin Corporation (NYSE:PH), a prominent player in the machinery industry with a market capitalization of $93.55 billion, has completed its previously announced acquisition of Curtis Instruments, Inc. from Rehlko for approximately $1 billion in cash, the motion and control technologies company announced Thursday.

Curtis Instruments designs and manufactures motor speed controllers, instrumentation, power conversion and input devices that complement Parker’s capabilities in electric and hybrid vehicle technologies. The acquired company expects calendar year 2025 sales of approximately $320 million. According to InvestingPro data, Parker-Hannifin currently generates annual revenue of $19.85 billion with an EBITDA of $5.09 billion, suggesting significant potential for integration synergies.

The acquisition strengthens Parker’s position in the mobile machinery market by expanding its electrification platform with complementary technologies. Curtis will join Parker’s Motion Systems Group.

"We welcome the Curtis team to Parker and look forward to building on our combined strengths to create accelerated growth opportunities," said Jenny Parmentier, Chairman and Chief Executive Officer of Parker-Hannifin.

Berend Bracht, President of Parker’s Motion Systems Group, noted that the acquisition "better positions us to serve our customers as they continue the adoption of more electric and hybrid solutions."

Parker-Hannifin has formed an integration team with members from both organizations and plans to implement its business system, The Win Strategy, to integrate the acquisition.

The transaction comes as Parker continues its long-standing record of shareholder returns, having increased its annual dividend for 69 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index.

This information is based on a press release statement from Parker-Hannifin Corporation.

In other recent news, Parker-Hannifin Corporation reported robust financial results for the fourth quarter of fiscal 2025, exceeding earnings expectations with an EPS of $7.15 compared to the forecast of $7.11. The company’s revenue also surpassed projections, reaching $5.2 billion against an anticipated $5.11 billion. In addition to its earnings report, Parker-Hannifin declared a quarterly cash dividend of $1.80 per share, marking its 301st consecutive quarterly dividend payment. The company has maintained a record of increasing its annual dividends for 69 consecutive fiscal years.

Goldman Sachs raised its price target for Parker-Hannifin to $804, maintaining a Buy rating, citing strong quarterly results and broad-based business performance. KeyBanc also increased its price target to $810, highlighting the company’s strong execution and effective capitalization on aerospace tailwinds. Conversely, Deutsche Bank downgraded Parker-Hannifin from Buy to Hold, noting the stock’s consistent outperformance in the industrial machinery group despite declining volumes. These developments reflect the company’s strategic decisions and market positioning amid a challenging industrial environment.

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