The Situation
Shimmick was seeking to divest a non-core division, Legacy Foundations, which focuses on deep foundation drilling and slope stabilization. Divestiture would allow Shimmick to focus on its core thesis of water infrastructure. Legacy Foundations was not a standalone business, so the Dinan Capital Advisors process focused on Strategic acquirers with existing infrastructure in place.
Our Services
We developed comprehensive marketing materials and approached a targeted group of potential suitors based on Shimmick’s criteria. Our materials highlighted the business’ broad service offerings, experienced and capable team, and strong brand recognition.
Our Results
There were many nuances to this transaction, including work in process, bonding requirements, and a large amount of specialized equipment (some of which was leased) that required extensive negotiating between multiple parties. Dinan was able to overcome these obstacles and consummate a transaction that was unanimously approved by the Board and advantageous for Shimmick’s shareholders.
Learn More
Connect with Dinan Capital Advisors Managing Director Tom Gerlacher or Senior Vice President Alex Aldworth for further insight on this transaction.
The Dinan team was instrumental in achieving the Board's directive to efficiently diverst non-core assets, allowing us to focus on growing the Company's core businesses. I was impressed with the level of professionalism the Dinan team brought to the process. Their degree of experience coupled with excellent communication skills is difficult to find.
