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Get filing alertsZurn Elkay to acquire Intellihot, entering tankless water heater market with ~$37M deal
Filed July 20, 2026 · Period ending July 20, 2026 · ~1 min read
Key Changes
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ZWS signed definitive agreement to acquire Intellihot, a tankless water heater solutions provider serving healthcare, education, hospitality, and commercial markets, with expected 2026 sales of ~$37M; close expected early Q3 2026.
Item 8.01 — Other Events verify on EDGAR → -
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Acquisition represents ZWS's entry into water heating category, adjacent to existing water management portfolio, serving similar end customers through similar distribution channels; no purchase price disclosed.
Exhibit 99.1 view on EDGAR → -
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Management indicated Q2 results tracking ahead of previously provided outlook range; full results to be disclosed July 29, 2026 earnings call.
Exhibit 99.1 view on EDGAR → -
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CEO noted relationship with Intellihot cultivated for years, citing strategic fit with specifiable solutions, regulatory tailwinds, and sustainability benefits; management affirmed strong balance sheet and active M&A pipeline.
Exhibit 99.1 view on EDGAR →
Summary
Zurn Elkay announced a definitive agreement to acquire Intellihot, a privately-held leader in tankless water heater solutions, marking the company's entry into the water heating market. Intellihot serves healthcare, education, hospitality, and commercial end markets with expected 2026 sales of approximately $37 million. The transaction is expected to close early in the third quarter of 2026.
No purchase price or other financial terms were disclosed in the filing. The acquisition represents an adjacent-market expansion for ZWS, which currently focuses on water management products. Management characterized Intellihot as serving similar customers through similar distribution channels, with products that benefit from regulatory tailwinds and sustainability trends.
The CEO noted the relationship has been cultivated for years, suggesting deliberate strategic planning. Management also affirmed the company's balance sheet remains strong with active M&A and innovation pipelines, indicating capacity for additional deals. Separately, management previewed that Q2 results are tracking ahead of the previously provided outlook range, with full details to be disclosed during the July 29 earnings call. For investors, the acquisition adds a new product category with modest scale (~$37M in annual sales) and appears consistent with ZWS's strategy of expanding its water solutions portfolio. The undisclosed purchase price and integration execution will be key factors to monitor when the deal closes in Q3.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
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.
Zurn Elkay has entered into a definitive agreement to acquire Intellihot, a company specializing in tankless water heater solutions for healthcare, education, hospitality, and commercial markets. The acquisition is expected to close early in the third quarter of 2026. No financial terms or purchase price were disclosed in this filing.
Event · Exhibit 99.1
Added in current filing · verify on EDGAR →
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.
ZWS signed an agreement to acquire Intellihot, a private company specializing in tankless water heaters for commercial and institutional markets. This represents ZWS's entry into the water heating category, expanding beyond its current water management product portfolio into an adjacent market serving similar end customers through similar distribution channels.
Added in current filing · view on EDGAR →
Intellihot’s net sales are expected to be approximately $37 million in 2026. The transaction is expected to close early in the third quarter.
Intellihot is expected to generate approximately $37 million in net sales in 2026, providing scale to the acquisition. The deal is expected to close early in Q3 2026, meaning integration will begin in the current quarter. No purchase price or other financial terms were disclosed.
Added in current filing · view on EDGAR →
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.
The CEO characterized Intellihot as an entry into an adjacent category with similar attributes to ZWS's existing business: specifiable solutions sold through distribution and independent reps, serving markets with regulatory tailwinds and sustainability benefits. Management noted they have cultivated this relationship for years, suggesting a deliberate strategic fit.
Added in current filing · view on EDGAR →
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.
Management affirmed that the company's financial position remains strong with healthy leverage, liquidity, and cash flow. They indicated active M&A and innovation pipelines, suggesting this acquisition does not exhaust their capacity for additional deals or organic investment.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 20, 2026 · How we verify