IPO - Shimmick Corp

Form Type: 10-K

Filing Date: 2025-03-20

Corporate Action: Ipo

Type: New

Accession Number: 000095017025042721

Filing Summary: Shimmick Corporation completed its initial public offering (IPO) in November 2023, marking a significant transition for the company as it became an independent entity following its separation from AECOM. The company is primarily involved in delivering turnkey solutions for critical infrastructure projects, including water supply, climate resilience, and transportation systems. With a backlog of approximately $822 million as of January 3, 2025, Shimmick focuses on self-performing projects to manage costs and risks effectively. The anticipated growth in their core markets driven by climate change and aging infrastructure highlights an increasing demand for their services. Shimmick is well-positioned to capitalize on a projected 106 billion market within the $1.1 trillion non-residential construction industry for 2025, as they cater predominantly to the public sector and have established a strong presence in California, which accounted for more than half of their revenue in 2024. Overall, the company aims to enhance liquidity, capital efficiency, and project execution effectiveness as part of its growth strategy.

Document Link: View Document