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Public works IPO in the works: Shimmick Construction files for an $86 million IPO

Shimmick Construction Company, a vertically integrated provider of heavy civil construction services in California, filed on Wednesday with the SEC to raise up to $86 million in an initial public offering.

Shimmick highlights some ongoing or recently-completed projects, including the $245 million seismic and wind retrofit of the Golden Gate Bridge, the $140 million raising of the San Vicente Dam to improve water availability in the San Diego region, the $779 million replacement of the Gerald Desmond Bridge linking the Long Beach Terminal Island and the Long Beach Freeway, the $629 million expansion of the LA County MTA Gold Line and the $772 million extension of the Bay Area Rapid Transit (BART) rail commuter system south from Fremont to San Jose.

The Oakland, CA-based company, which was founded in 1990 and booked $437 million in sales for the 12 months ended June 30, 2015, plans to list on the Nasdaq under the symbol SCCI. Shimmick Construction Company filed confidentially on September 15, 2015. FBR Capital Markets is the sole bookrunner on the deal. No pricing terms were disclosed.

The article Public works IPO in the works: Shimmick Construction files for an $86 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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