Shimmick Business Summary

Shimmick Corp (SHIM) is a leading provider of water and critical infrastructure solutions, generating revenue primarily through fixed-price contracts (approximately 95% of sales) alongside cost-reimbursable and equipment-labor fees. The company operates through two primary segments: Shimmick Projects, which focuses on high-margin core competencies in water treatment, desalination, dams, reservoirs, and sustainable transportation; and Non-Core Projects, representing legacy operations currently being phased out to streamline the portfolio. As of early 2026, Shimmick maintains a robust market position as a top-10 national builder in water supply and climate-resilient infrastructure, leveraging a backlog exceeding $750 million. It competes directly with heavy civil engineering giants such as Kiewit, Sterling Infrastructure, and Tutor Perini, distinguishing itself through specialized self-performance capabilities and a dominant presence in the Western United States. Originally founded in 1990 by John F. Shimmick, the company is currently led by Chief Executive Officer Ural Yal, a licensed civil engineer and former Flatiron Construction executive who succeeded long-time leader Steve Richards in late 2024. The executive team is further bolstered by EVP and Chief Financial Officer Todd Yoder, who brings over 20 years of public finance experience from S&B USA and Fluor Corporation. Shimmick is governed by a board chaired by Mitchell B. Goldsteen, the Executive Chairman and a principal of Oroco Capital, which played a pivotal role in the company’s 2021 carve-out from AECOM. Notable institutional backers include Pacific Ridge Capital Partners and Vanguard Group, while AECOM continues to hold a significant minority equity stake following the company's 2023 initial public offering.