Leumi Partners Reportedly Buys 10% of Shamir Engineering for NIS 114 Million

Leumi Partners, Bank Leumi's investment arm, is reportedly buying 10% of Shamir Engineering for NIS 114 million, valuing the Israeli construction company at NIS 1.14 billion. The transaction was reported on November 15 and involves shares sold by controlling shareholders Moshe Sharshov and Yosef Roda. The sale would be the founders' first realization of part of their holdings since establishing the company in 1993. After completion, each would retain 45%, with Leumi Partners holding the remaining 10%. Shamir, based at Kibbutz Yagur, employs approximately 70 people and builds logistics centers, factories, and industrial, commercial and office buildings. The company is reportedly expecting revenue of approximately NIS 700 million in 2026, compared with NIS 600 million in 2025 and NIS 400 million in 2022. Its adjusted earnings before interest, taxes, depreciation and amortization are expected to exceed NIS 100 million this year, while its signed project backlog is forecast to reach approximately NIS 800 million at year-end. The business has completed more than 100 projects, including Tnuva's Tel Yosef dairy and Tempo's logistics center. A possible Tel Aviv Stock Exchange flotation within two years forms part of the reported investment arrangements. Leumi Partners would have an option to acquire another 5% at the flotation price, alongside a mechanism allowing it to sell its holding back to the founders if no flotation or other realization takes place within three years.