Zurn Elkay is a pure-play water management company that makes specification-driven plumbing and water products for institutional and commercial buildings across North America. Its products control, filter, direct, and manage water throughout a building — from site entry to end-use fixtures. Zurn Elkay organizes its portfolio into four categories: water safety and control (backflow preventers, pressure reducing valves), flow systems (drains, grease interceptors), hygienic and environmental (flush valves, faucets, sinks, restroom partitions), and drinking water (bottle filling stations, water fountains, filtered faucets). Products are project-critical — a building can't pass inspection without them — but represent a small fraction of overall project cost, making compliance and reliability more important than price. Roughly 55% of revenue comes from new construction, with the remainder from retrofit and replacement. Zurn Elkay sells primarily into institutional end markets (education, healthcare, government) and commercial end markets, which are more stable than residential construction. The go-to-market model is specification-driven: roughly 1,000 independent sales reps at 120 agencies work with architects, engineers, and contractors to get Zurn Elkay products written into project specs, after which products flow through plumbing wholesalers. A growing piece of the strategy is filtration recurring revenue — as the installed base of bottle filling stations grows, so does demand for replacement filters, accelerated by the 2025 Pro Filtration redesign, which uses a proprietary filter head that limits replacements to Elkay-branded filters. M&A is also a core growth lever, with Zurn Elkay using its internal operating system to integrate and improve acquired businesses.