CLEVELAND, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies, today announced it has completed its previously announced acquisition of Filtration Group Corporation.

"The close of this transaction marks another milestone in our ongoing portfolio transformation, and we welcome our new team members to Parker," said Jenny Parmentier, Chairman and Chief Executive Officer. "Strategically, the combination of our businesses creates a powerhouse offering of complementary filtration technologies and aftermarket presence that we believe strengthens our ability to serve customers globally. Using The Win Strategy^TM, the acquisition is expected to compound earnings per share growth and create shareholder value."

Filtration Group Corporation adds to Parker’s portfolio of highly engineered products and leverages deep technical and application knowledge to serve key growth markets, including life sciences, HVAC/R, and in-plant and industrial. The company’s collection of established product brands are validated, specified and often sole-sourced. These capabilities complement Parker’s interconnected technology portfolio and increase its aftermarket presence, which the company expects will create strong recurring revenue streams across multiple product platforms.

Matt Jacobson, President of Parker’s Filtration Group, added, "Having built a high performing business, the talented team at Filtration Group Corporation will find an excellent fit at Parker. We share a commitment to advancing filtration solutions that protect and purify for our customers around the world, and bringing our businesses together will enable us to deliver even greater value."

Filtration Group Corporation is expected to add approximately $1.8 billion to Parker’s fiscal 2027 sales in the first 10.5 months of ownership. Approximately 60% of sales are expected in the Diversified Industrial Segment North America businesses, and 40% in the International businesses. The acquisition is expected to be neutral to adjusted EPS in the first quarter of fiscal 2027 and accretive to adjusted EPS for the full year fiscal 2027. Parker estimates pre-tax cost synergies of approximately $220 million by the end of year three.

About Parker Hannifin

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 70 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. Learn more at www.parker.com or @parkerhannifin.

Forward-Looking Statements

Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. Often but not always, these statements may be identified from the use of forward-looking terminology such as "anticipates," "believes," "may," "should," "could," "expects," "targets," "is likely," "will," or the negative of these terms and similar expressions, and may also include statements regarding future performance, orders, earnings projections, events or developments. Parker cautions readers not to place undue reliance on these statements. It is possible that the future performance may differ materially from expectations, including those based on past performance.

Other factors that may affect future performance are: changes in business relationships with and orders by or from major customers, suppliers or distributors, including delays or cancellations in shipments; disputes regarding contract terms, changes in contract costs and revenue estimates for new development programs; changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions, including the pending acquisition of CIRCOR International Inc.’s Commercial and Defense Aerospace business and the integration of Curtis Instruments, Inc. and Filtration Group Corporation; ability to successfully divest businesses planned for divestiture and realize the anticipated benefits of such divestitures; the determination and ability to successfully undertake business realignment activities and the expected costs, including cost savings, thereof; ability to implement successfully business and operating initiatives, including the timing, price and execution of share repurchases and other capital initiatives; availability, cost increases of or other limitations on our access to raw materials, component products and/or commodities if associated costs cannot be recovered in product pricing; ability to manage costs related to insurance and employee retirement and health care benefits; legal and regulatory developments and other government actions, including related to environmental protection, and associated compliance costs; supply chain and labor disruptions, including as a result of tariffs and labor shortages; threats associated with international conflicts and cybersecurity risks and risks associated with protecting our intellectual property; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; effects on market conditions, including sales and pricing, resulting from global reactions to U.S. trade policies; manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and economic conditions such as inflation, deflation, interest rates and credit availability; inability to obtain, or meet conditions imposed for, required governmental and regulatory approvals; changes in the tax laws in the United States and foreign jurisdictions and judicial or regulatory interpretations thereof; and large scale disasters, such as floods, earthquakes, hurricanes, industrial accidents and pandemics.

Readers should also consider forward looking statements in light of risk factors discussed in Parker’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025 and other periodic filings made with the Securities and Exchange Commission.

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Media –
Aidan Gormley - Director, Global Communications and Branding
216/896-3258
aidan.gormley@parker.com

Financial Analysts –
Jeff Miller - Vice President, Investor Relations
216/896-2708
jeffrey.miller@parker.com