What Happened to Circor International, Inc.?
Circor International, Inc., a global provider of mission-critical flow control products, was acquired by investment affiliates of KKR in October 2023 for $56.00 per share, leading to its delisting from the New York Stock Exchange. Operating as a private entity under KKR's ownership, Circor has since undergone strategic restructuring, including several acquisitions in 2025 and the planned divestiture of its Commercial and Defense Aerospace business to Parker Hannifin in 2026.
Quick Answer
CRCL Stock (Circor International, Inc.) ceased to exist on the public market after its acquisition by KKR for $56.00 per share, which was completed on October 18, 2023. The company was subsequently delisted from the New York Stock Exchange and now operates as a privately held entity under KKR's ownership. In a significant development in May 2026, Circor announced the sale of its Commercial and Defense Aerospace business to Parker Hannifin for $2.55 billion, expected to close in the second half of 2026, while KKR retains the Naval and Industrial segments.
📊Key Facts
📅Complete Timeline13 events
Sells Instrumentation and Sampling Business
Circor International, Inc. announced the sale of its Instrumentation and Sampling (I&S) business to Crane Co. for $172 million, as part of its strategic portfolio optimization.
Disposes of Distributed Valves Business
Circor announced the definitive agreement to dispose of its loss-making short-cycle upstream oil and gas business, Distributed Valves, to MS Valves GmbH for negative $8.25 million, aligning with its strategy to diversify away from non-core businesses.
Announces Financial Statement Restatement
Circor disclosed that financial statements for 2019, 2020, and several quarterly periods could no longer be relied upon due to accounting manipulation by a former finance director at a UK subsidiary.
Receives NYSE Non-Compliance Notice
The company received a notice from the New York Stock Exchange indicating non-compliance with listing standards due to its failure to timely file its Quarterly Report on Form 10-Q for Q2 2022.
Agrees to be Acquired by KKR
Circor International, Inc. announced a definitive agreement to be acquired by KKR for $49 per share in an all-cash transaction valued at approximately $1.6 billion, including debt.
Amends Merger Agreement with KKR to $56/Share
Following a competing proposal, Circor amended its merger agreement with KKR, increasing the acquisition price to $56.00 per share in cash, which the Board unanimously supported for its deal certainty.
Acquisition by KKR Completed, Delisted from NYSE
KKR successfully completed its acquisition of Circor International, Inc. for $56.00 per share. As a result, Circor common stock ceased trading and was delisted from the New York Stock Exchange, becoming a private company.
Launches Employee Ownership Program
Under KKR's ownership, Circor launched a broad-based employee ownership program, making all employees owners of the company.
Completes Acquisition of Indian Pump Manufacturers
Circor completed the acquisition of Swelore Engineering Pvt. Ltd. and Hiro Nisha Systems Pvt. Ltd., two leading Indian manufacturers of metering and reciprocating pumps, expanding its industrial portfolio.
Acquires Flowserve Herringbone Gear Pump Line
Circor announced the acquisition of essentially all operating assets related to the herringbone gear pump product line from Flowserve Corporation, further strengthening its flow control offerings.
Saif Siddiqui Appointed CEO
Saif Siddiqui joined Circor as Chief Executive Officer, succeeding Tony Najjar, who transitioned to Vice Chairman of the Board of Directors.
Agrees to Sell Aerospace Business to Parker Hannifin
KKR and Circor announced a definitive agreement to sell Circor's Commercial and Defense Aerospace business to Parker Hannifin Corporation for $2.55 billion. The transaction is expected to close in the second half of 2026.
Current Status: Private Company with Strategic Focus
As of today, Circor International, Inc. remains a private company under KKR's ownership, focusing on its Naval and Industrial segments, with the aerospace divestiture to Parker Hannifin pending regulatory approvals.
🔍Deep Dive Analysis
Circor International, Inc. (formerly NYSE: CIR) was a prominent global manufacturer of highly engineered flow control products and services for industrial and aerospace & defense markets. The company's journey as a publicly traded entity concluded in late 2023 following a strategic acquisition.
In March 2022, Circor faced scrutiny when it announced that financial statements from 2019 and 2020, along with several quarterly periods, could no longer be relied upon due to accounting manipulation by a former finance director at a UK subsidiary. This led to a notice from the NYSE in August 2022 regarding non-compliance for failing to timely file its Q2 2022 report.
The pivotal moment for CRCL stock occurred in June 2023 when Circor entered into a definitive agreement to be acquired by investment funds managed by KKR in an all-cash transaction initially valued at approximately $1.6 billion, or $49 per share. This offer represented a significant premium to the company's stock price. The agreement was subsequently amended on June 29, 2023, increasing the offer to $56.00 per share, following an unsolicited competing proposal from Arcline Investment Management LP. Circor's Board of Directors unanimously approved the amended KKR deal, citing increased deal certainty and a clearer path to regulatory approvals.
The acquisition by KKR was successfully completed on October 18, 2023. As a direct consequence of this transaction, Circor International, Inc. common stock ceased trading and was delisted from the New York Stock Exchange, transitioning the company into a privately held entity wholly owned by KKR's investment affiliates. Following the privatization, KKR implemented a broad-based employee ownership program for all Circor employees in early 2024.
Under KKR's ownership, Circor has continued to evolve its business portfolio. In 2025, the company expanded its industrial footprint through several acquisitions, including Swelore Engineering Pvt. Ltd. and Hiro Nisha Systems Pvt. Ltd., two leading Indian manufacturers of metering and reciprocating pumps, and the herringbone gear pump product line from Flowserve Corporation. Leadership also saw a change in January 2026, with Saif Siddiqui taking over as CEO from Tony Najjar.
The most recent significant development, as of May 21, 2026, is the announcement that KKR and Circor have entered into a definitive agreement to sell Circor's Commercial and Defense Aerospace business to Parker Hannifin Corporation for $2.55 billion in cash. This transaction is expected to close in the second half of 2026, subject to regulatory approvals. KKR will retain ownership of Circor's Naval and Industrial businesses, signaling a strategic focus on these core segments. Upon the closing of this divestiture, Circor employees are expected to receive a dividend distribution from a portion of the sale proceeds.
What If...?
Explore alternate histories. What if Circor International, Inc. made different choices?