Deal Details

Zurn Elkay Water Solutions Corporation ("Zurn Elkay”) (NYSE: ZWS) completed a public offering by a certain former Elkay stockholder, Ice Mountain LLC (the "selling stockholder”), of 8,912,500 shares of Zurn Elkay’s common stock (the "Offering”) at a price to the public of $35.00 per share, including 1,162,500 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares from the selling stockholder. The selling stockholder will receive all of the net proceeds from the Offering with no shares being sold by Zurn Elkay.

Concurrently, Zurn Elkay repurchased 1,636,905 (or approximately $55,000,000) of its common stock at a price per share equal to the price per share paid by the underwriter to the selling stockholder.

Ice Mountain LLC acquired its shares in Zurn Elkay as a result of the combination of Zurn and Elkay in 2022. Ice Mountain LLC’s holdings in Zurn Elkay represent the interests of those members of the Katz family (the founding family of Elkay, formed in 1920).

Baird served as an active bookrunner on this Offering.