Parker Hannifin acquires Curtis Instruments for $1 billion

American motion and control products maker Parker Hannifin has announced that it has agreed to acquire Curtis Instruments from Rehlko, for about USD 1 billion in cash, enhancing its portfolio of electric and industrial vehicles technologies. 

The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals, and is expected to close by the end of calendar year 2025, according to a media release.

Curtis designs and manufactures motor speed controllers, instrumentation, power conversion and input devices that complement Parker’s strength in electric vehicle motors, hydraulic and electrification technologies. Headquartered in New York, Curtis expects calendar year 2025 sales of approximately USD 320 million. 

“This transaction is aligned with the long-term electrification secular trend and meets our disciplined financial criteria for acquisitions designed to create shareholder value,” said Jenny Parmentier, Chairman and Chief Executive Officer. “Curtis adds complementary technologies to our existing industrial electrification platform, better positioning us to serve our customers as they continue the adoption of more electric and hybrid solutions. We anticipate a smooth closing and look forward to welcoming the Curtis team.”  

“Rehlko is proud of the legacy and performance of Curtis as a high-performing, 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 from Parker’s increased scale, focus, and investment.”

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