Transaction Sees Complete Continuity of Employees, Contracts and Leadership
OAKLAND, Calif.—January 4, 2021—Shimmick Construction (Shimmick) announced today that the business now operates as a leading independent construction company following an investment from Oroco, a strategic long-term investor with a focus on infrastructure projects across the country. This follows the completion of a recent transaction between AECOM and Oroco, which closed on Jan. 2.
Shimmick is a heavy civil construction company with successful projects delivered across a variety of critical infrastructure markets including bridges, water and wastewater treatment, locks and dams, transit, transportation, and foundations. Shimmick will operate as an independent company with renewed commitment to ongoing investments in its employees, technology, and equipment. All employees and contracts will stay with the company, and the Shimmick leadership team will remain unchanged.
“With Oroco’s full support and confidence, Shimmick is better positioned to successfully deliver critical infrastructure projects to improve our nation’s vital needs,” said Steve Richards, president of Shimmick. “We are excited to embark on this new chapter in our history and look forward to working with our partners and clients to develop innovative solutions and provide high-quality customer service.”
Shimmick has approximately 2,700 employees and a broad portfolio of iconic infrastructure projects. Over recent years, significant increases in transportation and infrastructure spending across the U.S., along with the federal government, have supported nearly double-digit annual market growth resulting in a large backlog of unmet infrastructure needs.
“We share Shimmick’s values of pride in community and dedication to serving clients and people,” said Mitchell Goldsteen, principal at Oroco. “The team at Shimmick has distinguished itself as one of the very best through acclaimed infrastructure and transportation projects that define the cutting edge of civil engineering. We look forward to supporting their growth as a value-added partner.”
Under AECOM, Shimmick merged with AECOM’s civil construction business comprised of heritage construction companies Morrison Knudsen, Washington Group International, Raytheon Engineers & Constructors and others. Since then, these legacy companies have operated as a single, integrated construction unit under the Shimmick name and brand.
King & Spalding served as legal advisor to Oroco in connection with the transaction.
Shimmick is a heavy civil construction firm and trusted partner providing innovative, cost-effective solutions to meet unique operational and construction challenges. Shimmick has successfully delivered projects across the U.S. spanning nearly every civil market segment from bridges and rail transit to dams and wastewater treatment facilities. Shimmick’s ability to self-perform every part of a complex construction project, including foundations and MEP, provides significant value to clients by controlling quality and schedule to deliver projects on time and within budget. Working from coast to coast, Shimmick has more than 2,700 employees, and is headquartered in Oakland, CA, with regional offices in Irvine and Suisun City, CA, Denver, CO, and Sunrise, FL.
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