Leumi Partners Acquires 10% of Shamir Engineering for $31 Million

Leumi Partners, the investment arm of Bank Leumi, is investing NIS 114 million (approximately $31 million) for a 10% stake in Shamir Engineering, a construction and infrastructure company. The deal values Shamir Engineering at NIS 1.14 billion ($310 million). This marks the first exit for co-owners Moshe Shershev and Yosef Rodeh, who will each retain 45% ownership after the transaction, with Leumi Partners holding the remaining 10%.

Shamir Engineering, based in Kibbutz Yagur and employing around 70 people, specializes in building logistics centers, factories, and commercial structures. The company projects revenues of approximately NIS 700 million in 2026, up from NIS 600 million in 2025. The investment precedes Shamir Engineering's planned initial public offering on the Tel Aviv Stock Exchange within the next two years.

Founded in 1993, Shamir Engineering has completed over 100 projects for Israeli and international clients, including industrial buildings, logistics centers, and commercial and office spaces. Notable projects include industrial parks, logistics centers for Tiv Ta'am and Tempo, factories for Unilever and Huggies, BIG centers, and Carmel Wineries. The company is active in both execution and development, with plans to expand its independent development activities, particularly in industrial and logistics sectors.

The deal with Leumi Partners includes mechanisms for Leumi Partners to realize its investment, such as an option to sell its shares back to the owners if an IPO or other exit event does not occur within three years. Leumi Partners also has an option to acquire an additional 5% stake at the IPO price. Leumi Partners, managed by Victor Vart, recently invested $100 million in the US housing group Harbor Group.