Parker to acquire Curtis Instruments, expanding electrification offering

Parker Hannifin Corporation, the global leader in motion and control technologies, announced that it has agreed to acquire Curtis Instruments, Inc. from Rehlko for approximately $1 billion in cash. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close by the end of 2025.

Curtis Instruments designs and manufactures motor speed controllers, instrumentation, power conversion, and input devices that complement Parker’s strengths in electric vehicle motors, hydraulic systems, and electrification technologies. Curtis expects to generate approximately $320 million in sales in 2025.

“This transaction is aligned with the long-term electrification trend and meets our disciplined financial criteria for acquisitions designed to create shareholder value,” said Jenny Parmentier, Chairman and Chief Executive Officer of Parker. “Curtis adds complementary technologies to our existing industrial electrification platform, better positioning us to serve customers as they adopt more electric and hybrid solutions. We anticipate a smooth closing and look forward to welcoming the Curtis team. Using our proven business system, The Win Strategy™, we believe we can deliver strong operational synergies and create significant shareholder value.”

Rehlko and its financial sponsor, Platinum Equity, expressed confidence in the transaction and in Parker’s ability to drive further growth.

“Rehlko is proud of Curtis’s legacy and performance as an innovation-driven business,” said Brian Melka, President and Chief Executive Officer of Rehlko. “Parker is an exceptional company, and we are confident Curtis will thrive with Parker’s increased scale, focus, and investment.”

“We have great respect for Curtis, its leadership team, and its innovative products. We are confident that Parker Hannifin is the right home for the business going forward,” added Platinum Equity Co-President Jacob Kotzubei and Managing Director Matthew Louie in a joint statement.

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century, the company has enabled engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share for 69 consecutive fiscal years, ranking among the top five longest-running dividend-increase records in the S&P 500 index.