MILWAUKEE, WIS.—Zurn Elkay Water Solutions Corp. announced it has signed an agreement to acquire Intellihot, Inc., a privately-held leader in privately held 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.
“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.
