{
  "title": "Zurn acquires Elkay: $1.56B all-stock deal and what it means",
  "url": "https://acquisitions.com/blog/zurn-acquires-elkay/",
  "author": "Moran Pober",
  "publisher": "Acquisitions.com",
  "published": "2026-10-24",
  "updated": "2026-10-24",
  "section": "Deal reports",
  "keyword": "Zurn acquires Elkay",
  "short_answer": "On 14 February 2022 Zurn Water Solutions agreed to combine with Elkay Manufacturing, a family-owned sink and drinking water maker, in an all-stock deal. Zurn said it valued Elkay at $1.56 billion, or 14.2 times forecast 2022 adjusted EBITDA. The deal closed on 1 July 2022, and Elkay's owners received about 51.6 million Zurn shares, about 29% of the combined company.",
  "facts": {
    "Buyer": "Zurn Water Solutions Corporation (NYSE: ZWS), Milwaukee, Wisconsin; renamed Zurn Elkay Water Solutions Corporation at closing",
    "Target": "Elkay Manufacturing Company, Downers Grove, Illinois; family-owned since 1920",
    "Sector": "Plumbing products: sinks, faucets, drinking fountains, water coolers and bottle filling stations",
    "Location": "Elkay: Downers Grove, Illinois, with 13 locations across the U.S., China and Mexico",
    "Price": "$1.56 billion, based on Zurn's closing share price on 11 February 2022",
    "Structure": "All-stock combination. Elkay shareholders received about 51.6 million Zurn shares at closing, subject to holdbacks and post-closing adjustments",
    "Valuation": "14.2 times Elkay's forecast 2022 adjusted EBITDA; 9.8 times after forecast run-rate cost synergies",
    "Employees": "Elkay: over 1,800",
    "Announced": "14 February 2022; closed 1 July 2022",
    "Source": "Zurn announcement, Exhibit 99.1 to its 8-K; Zurn closing release"
  },
  "sources": [
    "https://www.sec.gov/Archives/edgar/data/1439288/000110465922021654/tm226396d1_ex99-1.htm",
    "https://www.sec.gov/Archives/edgar/data/1439288/000110465922076858/tm2219526d1_ex99-1.htm"
  ],
  "license": "Facts may be quoted with attribution to Acquisitions.com and a link to the url above."
}