Zurn Water Solutions completes PMC spin-off to Regal Rexnord, becomes pure-play water company

Zurn Elkay Water Solutions Corp

Completed Reverse Morris Trust spin-off of PMC segment; stockholders received 0.22296103 Regal shares per Zurn share.
Name changed from Rexnord to Zurn Water Solutions; NYSE ticker changes from RXN to ZWS effective Oct 5.
New $550M Term B Loan and $200M revolving credit facility; proceeds used to repay existing debt and fund spin-off.
Pro forma Remainco net sales $448.9M, net income $38.5M, EPS $0.32 for six months ended June 30, 2021.
Board reduced to nine; directors Ted Crandall and Robin Walker-Lee resigned; officer Kevin Zaba transferred to Regal.

item 1.01 item 2.01 item 2.03 item 5.02 item 5.03 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Robin Walker-Lee

Director

ZWS · Zurn Elkay Water Solutions Corp

Effective: 2021-10-05
Filed: October 5, 2021, 7:59 PM ET

each of Ted Crandall and Robin Walker-Lee (each, a "Resigning Director") resigned from the Board of Directors of the Company (the "Board"), and from all committees of the Board on which such Resigning Director served, effective upon the effective time of the merger

Departed

Kevin Zaba

Group Executive & President, Process & Motion Control

ZWS · Zurn Elkay Water Solutions Corp

Effective: 2021-10-05
Filed: October 5, 2021, 7:59 PM ET

Mr. Zaba's employment was transferred with the Company's PMC business as part of the Transaction and he ceased to be an officer of the Company as of the Effective Time.

Departed

Ted Crandall

Director

ZWS · Zurn Elkay Water Solutions Corp

Effective: 2021-10-05
Filed: October 5, 2021, 7:59 PM ET

each of Ted Crandall and Robin Walker-Lee (each, a "Resigning Director") resigned from the Board of Directors of the Company (the "Board"), and from all committees of the Board on which such Resigning Director served, effective upon the effective time of the merger

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Robin Walker-Lee resigned as Director at Zurn Elkay Water Solutions Corp.

Action: resigned
Role: Director

Exact text from the filing

each of Ted Crandall and Robin Walker-Lee (each, a "Resigning Director") resigned from the Board of Directors of the Company (the "Board"), and from all committees of the Board on which such Resigning Director served, effective upon the effective time of the merger

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin Zaba departed as Group Executive & President, Process & Motion Control at Zurn Elkay Water Solutions Corp.

Action: ceased to be an officer
Role: Group Executive & President, Process & Motion Control

Exact text from the filing

Mr. Zaba's employment was transferred with the Company's PMC business as part of the Transaction and he ceased to be an officer of the Company as of the Effective Time.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ted Crandall resigned as Director at Zurn Elkay Water Solutions Corp.

Action: resigned
Role: Director

Exact text from the filing

each of Ted Crandall and Robin Walker-Lee (each, a "Resigning Director") resigned from the Board of Directors of the Company (the "Board"), and from all committees of the Board on which such Resigning Director served, effective upon the effective time of the merger

View on SEC.gov

Zurn Elkay Water Solutions Corp filing history →

Source: SEC EDGAR

accession 0001104659-21-123204

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