Zurn Elkay (NYSE: ZWS) to acquire Intellihot as it sees Q2 above outlook
Rhea-AI Filing Summary
Zurn Elkay Water Solutions entered into a definitive agreement to acquire Intellihot, Inc., a privately held leader in gas and electric tankless water heater solutions for healthcare, education, hospitality and commercial customers. Intellihot’s net sales are expected to be approximately $37 million in 2026.
The transaction, which expands Zurn Elkay into the high‑efficiency water heating market, is expected to close early in the third quarter. Management also indicated that second‑quarter 2026 results are expected to be ahead of the previously provided outlook range, with full details to be discussed on an earnings call scheduled for July 29, 2026.
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8-K Event Classification
3 items: 2.02, 8.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Intellihot 2026 Net Sales: $37 million
Q2 2026 Earnings Call Date: July 29, 2026
Announcement Date: July 20, 2026
+1 more
4 metrics
Intellihot 2026 Net Sales
$37 million
Intellihot’s net sales are expected to be approximately $37 million in 2026.
Q2 2026 Earnings Call Date
July 29, 2026
Earnings call scheduled for Wednesday, July 29, 2026.
Announcement Date
July 20, 2026
On July 20, 2026, the company announced the Intellihot agreement and Q2 preview.
Last Form 10-K Period End
December 31, 2025
Risk factors referenced from the report on Form 10-K for the period ended December 31, 2025.
Key Terms
definitive agreement, tankless water heater solutions, forward-looking statements, specification-driven water management solutions, +1 more
5 terms
definitive agreement regulatory
"announced that it entered into a definitive agreement to acquire Intellihot, Inc."
A definitive agreement is a formal, legally binding document that outlines the final terms and conditions of a deal or transaction, such as a sale or partnership. It acts like a detailed contract that confirms all parties have agreed on the key details, making the deal official. For investors, it signals that the agreement is settled and moving toward completion, providing clarity and security about the transaction.
tankless water heater solutions technical
"a leader in tankless water heater solutions serving the healthcare, education, hospitality"
Tankless water heater solutions are systems that heat water on demand instead of storing it in a hot-water tank, like a faucet that warms water only when you turn it on rather than keeping a whole kettle hot all day. For investors, they matter because they represent a product category with different cost, energy efficiency, installation and maintenance profiles than traditional heaters, which can affect manufacturers’ margins, sales growth, replacement cycles and overall market demand.
forward-looking statements regulatory
"Cautionary Statement on Forward-Looking Statements Information in this release may involve"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
specification-driven water management solutions technical
"broadest sustainable product portfolio of specification-driven water management solutions"
emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Earnings Snapshot
Performance vs prior outlook range: expected to be ahead of the outlook range provided earlier in the quarter · Guidance included
second quarter 2026
Performance vs prior outlook range
expected to be ahead of the outlook range provided earlier in the quarter
Guidance
The company plans to provide further details on the quarter and outlook during an earnings call scheduled for July 29, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Zurn Elkay (ZWS) announce on July 20, 2026?
Zurn Elkay announced a definitive agreement to acquire Intellihot, Inc. and previewed that its second‑quarter 2026 results are expected to come in ahead of the outlook range provided earlier in the quarter.
Who is Intellihot and why is Zurn Elkay (ZWS) acquiring it?
Intellihot is a privately held leader in tankless water heater solutions for healthcare, education, hospitality and commercial markets. Zurn Elkay views the deal as a step into an adjacent high‑efficiency water heating category aligned with its existing water management business.
When is the Intellihot acquisition by Zurn Elkay (ZWS) expected to close?
The acquisition of Intellihot, Inc. by Zurn Elkay is expected to close early in the third quarter. The companies have signed a definitive agreement, and closing remains subject to the usual completion conditions described in the announcement.
How large is Intellihot’s business in the Zurn Elkay (ZWS) deal?
Intellihot’s net sales are expected to be approximately $37 million in 2026. This figure reflects the scale of Intellihot’s tankless water heating operations that Zurn Elkay plans to add to its broader water management solutions portfolio.
What did Zurn Elkay (ZWS) say about its Q2 2026 financial performance?
Zurn Elkay stated that its second‑quarter 2026 results are expected to be ahead of the outlook range it provided earlier in the quarter. The company plans to share more detailed financial information and updated outlook during an upcoming earnings call.
When will Zurn Elkay (ZWS) discuss Q2 2026 results in detail?
Zurn Elkay plans to provide full details on its second‑quarter 2026 results and outlook during an earnings call scheduled for Wednesday, July 29, 2026. The company previewed performance as ahead of its earlier outlook range.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 20, 2026
| (Exact name of Registrant as specified in its charter) | ||
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||||||||
(855 ) 480-5050
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On July 20, 2026, Zurn Elkay Water Solutions Corporation (the “Company” or “Zurn Elkay”) issued a press release that included a preview of its expected results for the second quarter and announcing that the Company will provide further details on the quarter and outlook during an earnings call that will occur in late July. A copy of the press release is furnished herewith as Exhibit 99.1.
The information in this Item, including Exhibit 99.1, is “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, regardless of any general incorporation language in such filing.
Item 8.01 Other Events.
On July 20, 2026, the Company announced that it entered into a definitive agreement to acquire Intellihot, Inc. (“Intellihot”). Intellihot is a leader in tankless water heater solutions serving the healthcare, education, hospitality and commercial end markets. The transaction is expected to close early in the third quarter.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. | Description | |||||||
| 99.1 | Press Release, dated July 20, 2026* | |||||||
| 104 | Cover Page Inline XBRL data embedded within the Inline XBRL document | |||||||
*This exhibit is furnished pursuant to Item 2.02 and shall not be deemed to be "filed."
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Zurn Elkay Water Solutions Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized this 20th day of July, 2026.
ZURN ELKAY WATER SOLUTIONS CORPORATION
By: /s/ Jeffrey J. LaValle
Jeffrey J. LaValle
Vice President, General Counsel and Secretary
Exhibit 99.1
Zurn Elkay Water Solutions Corporation to Acquire Intellihot
Entering the High Efficiency Water Heating Market
MILWAUKEE, WI — July 20, 2026 — Zurn Elkay Water Solutions Corporation (NYSE: ZWS) today announced it has signed an agreement to acquire Intellihot, Inc., a privately-held leader in tankless water heater solutions serving the healthcare, education, hospitality and commercial end markets.
“We are excited about Intellihot, an earlier-stage technology disruptor in the tankless water heating market for commercial and institutional applications,” said Todd A. Adams, Chairman and CEO of Zurn Elkay. “This transaction will be a strong initial step into an adjacent category where building owners demand integrated solutions from partners like Zurn Elkay and Intellihot that they know and trust. A combination with Intellihot, which we have cultivated for years, will further our long-term growth strategy and will bring an established presence in the water heating end market.
“As we’ve historically done both organically and through acquisition, we’ve identified a category in which we believe we can establish a meaningful presence and share that has many of the same attributes of our existing business: a specifiable solution in a growing market, part of an industry with longer-term regulatory tailwinds, sold through distribution and our independent third-party rep network, with products that have a real sustainable impact on our customers,” said Adams. “Our balance sheet, leverage, liquidity and cash flow generation remain strong, as do our M&A and innovation funnels, all of which puts us in a great spot as we continue to pursue opportunities for growth both organically and inorganically.”
Intellihot offers gas and electric tankless water heaters with market-leading energy efficiency and cost savings compared to traditional tanked water heaters. Intellihot’s net sales are expected to be approximately $37 million in 2026. The transaction is expected to close early in the third quarter.
Second-Quarter Results
“We see our second quarter results ahead of the outlook range we provided earlier in the quarter,” said Adams. “We will provide further details on the quarter and our outlook during an earnings call scheduled for Wednesday, July 29, 2026."
About Zurn Elkay Water Solutions
Named one of the World’s Greenest Companies and one of America’s Most Responsible Companies by Newsweek and one of the World’s Best Companies for Sustainable Growth by TIME, Zurn Elkay Water Solutions is headquartered in Milwaukee, Wisconsin, and is a growth-oriented, pure-play water management business that designs, procures, manufactures and markets what we believe to be the broadest sustainable product portfolio of specification-driven water management solutions to improve health, hydration, human safety and the environment. The Zurn Elkay product portfolio includes professional grade water safety and control products, flow systems products, hygienic and environmental products and filtered drinking water products for public and private spaces. Learn more at www.zurnelkay.com.
Cautionary Statement on Forward-Looking Statements
Information in this release may involve outlook, expectations, beliefs, plans, intentions, strategies or other statements regarding the future, which are forward-looking statements. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based on information available to Zurn Elkay Water Solutions as of the date of this release, and Zurn Elkay Water Solutions assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance, and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences. Please refer to “Risk Factors” and “Cautionary Notice Regarding Forward-Looking Statements” in our report on Form 10-K for the period ended December 31, 2025, as well as the Company’s subsequent annual, quarterly and current reports filed on Forms 10-K, 10-Q and 8-K from time to time with the Securities and Exchange Commission for a further discussion of the factors and risks associated with the business.
Media Contact:
Angela Hersil, VP – Marketing & Communications, Public Affairs and Sustainability
855-480-5050 or 414-808-0199, corporate.communications@zurnelkay.com
Investor Contact:
Bobbi Belstner, Vice President and Corporate Controller
414-361-0122