The company also has been involved in many commercial jobs throughout its territories. Quarry Meet Growth Challenges, VIDEO: ESCO PosiGrab II Hydraulic Coupler, Place an equipment listing on Aggregate Equipment Guide. SRM Concrete locations. CREDIT RATINGS, NON-CREDIT ASSESSMENTS (ASSESSMENTS), AND OTHER OPINIONS INCLUDED IN MOODYS PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. SRM acquires Argos Panhandle division in Florida. (615) 355-1028 18of the plants are situated in North Carolina and the remainder in Southwest Florida. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle The deal was upsized from $515 million and pricing finalized at the wide end of guidance, according to market sources. Martin Marietta to Sell Colorado and Central Texas Ready Mixed Concrete Smyrna Ready Mix Concrete focuses on providing building material services across the commercial and residential construction segments. US: Argos USA has agreed to sell a total of 23 US ready-mix concrete batching plants to Smyrna Ready Mix Concrete for US$93m. Pro forma for the transaction, Smyrna's liquidity position is supported by roughly $15 million of cash, a $250 million asset based revolving credit facility, under which Moody's expects $210 million will remain available, and Moody's expectation that the company will generate around $150 million in free cash flow in 2022. This documentary-style series follows investigative journalists as they uncover the truth. We have a good relationship that is carried over to our business. Our Team SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle "[Dad] did not have a clue going in about what he was doing, and he had to work through that, but he had the good Lord's grace on his side," Ryan added. Interestingly, the younger Hollingshead said that in 2014, SRM Concrete was able to buy out the ready-mix company that had earlier denied his father the products he needed for his one-man projects, which, in turn, led to the creation of the large multi-service firm. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.The ratings have been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure.These ratings are solicited. (MSFJ) is a wholly-owned credit rating agency subsidiary of MJKK. close alert. It means so much more because we are working as a team, and we do everything together outside of work, like go to church and go on vacations.". Careers, Place An Order SRM acquires Anchor Ready Mix based in Cincinnati, Ohio. At-a-glance. "It really is because of the Power Equipment branch we use, and the whole team that includes Jeff Walker, as well as the phenomenal machine service Robbie Allen provides," Ryan said. SRM expanded its roster of quarries, Ryan noted, in what he described as "an organic fashion" to complement its other existing services in a particular marketplace. "Going forward, we expect this management team to remain focused on execution, pursue additional tuck-in acquisitions, and remain committed to a conservative financial policy. Smyrna Ready Mix Concrete, better known as SRM Concrete, offers a range of services, but its concentration on ready-mix, mining and materials production has made it one of the fastest growing operations in the eastern half of the United States. In addition, we are on the water in Jackson, Ala., about an hour north of Mobile, where we are loading rock and hauling it south to Panama City, Fla.". "The following rating actions were taken:Upgrades:..Issuer: Smyrna Ready Mix Concrete, LLC. Corporate Family Rating, Upgraded to Ba3 from B1. Probability of Default Rating, Upgraded to Ba3-PD from B1-PD.Senior Secured Regular Bond/Debenture, Upgraded to Ba3 (LGD4) from B1 (LGD4)Assignments:..Issuer: Smyrna Ready Mix Concrete, LLC.Gtd Senior Secured Term Loan B, Assigned Ba3 (LGD4)Outlook Actions:..Issuer: Smyrna Ready Mix Concrete, LLC.Outlook, Remains StableRATINGS RATIONALESmyrna's Ba3 Corporate Family Rating reflects the company's market position as one of the leading regional producers of construction materials in Tennessee, Florida, Georgia, Colorado Kentucky, Texas and Michigan, increasingly vertically integrated assets and broad customer base. "Keep in mind that we also have sand mines, granite mines and gravel pits. Ceasars Equipment Finds 'Sweet Spot' With 10-Ft. Screener, Keestrack Plug-In Electric Crushing, Screening Converts Demo Waste to Construction Material, First Powerscreen Premieretrak 600E in Ireland Goes to Collen Bros, VIDEO: Rokbak RA30 Delivers On All Fronts for Skene Group, Terex MP Announces Purchase of MARCO Conveyors, Autonomous Crushing With SBM Mineral Processing's REMAX 600, SBM Mineral Processing: Hybrid 'By Nature', Alta Helps L.A. Market Intelligence This document is intended to be provided only to wholesale clients within the meaning of section 761G of the Corporations Act 2001. The El Colombiano newspaper has reported that the deal includes a five-year cement supply agreement for all 23 plants. 1136 Second Avenue North. CMO Contact Us Proceeds will be used to fund certain acquisitions, to refinance existing debt and for general corporate purposes. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. Murfreesboro, TN 37129 With very little money and three trucks, we built a concrete plant in our own backyard at 4500 Hickory Grove Road in Murfreesboro, Tenn. Close to home, for example, some of SRM's largest contracts have included the building of the downtown Nashville Convention Center, and the nearby Bridgestone Tower. Proceeds will be used to fund certain acquisitions, refinance existing debt and for general corporate purposes. Making sure SRM Concrete follows safe practices within its various divisions is something that has proven to be a demanding task, considering the far-flung nature of the company, its vast number of employees and the type of work that is performed. Aggregate Equipment Guide is a project of Construction Equipment Guide, putting machines in front of buyers for over 60 years. International Association of Better Business Bureaus. SRMs Komatsu PC490-11 excavator loads an HD325-8 40-ton quarry truck. content CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. ET on Oct. 29. What's more unusual is the fact that in only 22 years, Mike and Melissa's operation is today a huge company that employs a staggering 4,000 employees working in 13 states. Company Store Smyrna Ready Mix Concrete LLC is in market today with a $315 million term loan B, according to sources. info@smyrnareadymix.com SRM Concrete | Quality Concrete, Unmatched Service SRM provides quality ready mix concrete and construction materials to our customers throughout sixteen states. BBB Business Profiles are subject to change at any time. I know everyone on every site by name, and on the ready-mix side that is difficult because of the sheer number of people we have, but as a family-owned company we all have an open-door policy, so any Hollingshead can be reached, if needed.". Smyrna Ready Mix Employee Directory Smyrna Ready Mix corporate office is located in 1000 Hollingshead Cir, Murfreesboro, Tennessee, 37129, United States and has 828 employees. Smyrna Ready Mix was founded for the purpose of providing superior customer service. Featured Products "We don't have the turmoil you sometimes see in family-owned businesses. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle Meritain Information Smyrna Ready Mix Smyrna Ready Mix Concrete LLC is in market today with a $315 million term loan B, according to sources. After seeing 140,000 visitors and a positive mood in all participating industries, ConExpo-Con/AGG closed with an extremely positive result. "At SRM, we consider safety an investment in our employees, and we want to make sure that our people can clock in and out every day. "We, of course, are ready-mix driven, so as we acquire ready-mix companies, if we see a need to have a quarry in that area, we will look to obtain one close by," he said. Within six months of launching SRM Concrete, though, other area concrete finishers took note of the new plant and began ordering from the family business. MSFJ is not a Nationally Recognized Statistical Rating Organization (NRSRO). Concrete, Inc., which is wholly owned by Vulcan Materials Company. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold credit ratings from Moodys Investors Service and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually at www.moodys.com under the heading Investor Relations Corporate Governance Director and Shareholder Affiliation Policy.Additional terms for Australia only: Any publication into Australia of this document is pursuant to the Australian Financial Services License of MOODYS affiliate, Moodys Investors Service Pty Limited ABN 61 003 399 657AFSL 336969 and/or Moodys Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL 383569 (as applicable). Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. Smyrna Ready Mix provides ready mix concrete services to contractors, professional home builders, and do-it-yourself home owners, and provides material hauling and concrete pumping services. SRM CONCRETE Revenue, Growth & Competitor Profile - IncFact.com ET on Oct. 29. The company serves bulk cement throughout the Southeast and Midwest United States. Our company continues to expand, but our mission to provide every customer with quality concrete and unmatched service remains the same. Smyrna Ready Mix Concrete launches $315M TLB; commitments due Oct. 29, Essential IR Insights Newsletter - March 2023, Continuous Financial Health Management of Suppliers, A Cloud Migration Plan for Corporations featuring Snowflake, In Search of Resilience Part 1 - A Data-Driven Scoreboard. Privacy Policy SEE APPLICABLE MOODYS RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODYS CREDIT RATINGS. MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. The company's senior secured debt is contractually subordinated to the company's $250 million Asset Based Revolving Credit Facility expiring in 2026 which is secured by the account receivable and inventory.The proceeds from the proposed $650 million offering will be used primarily to fund pending acquisitions. (615) 355-1028. Metro Ready Mix Concrete | The Greystone Group Locations BBB reports on known marketplace practices. Privacy Policy MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. AND/OR ITS AFFILIATES. We offer a wide variety of concrete mix designs, admixtures, reinforcing products, aggregates, and more to mee Read More Contact Who is Smyrna Ready Mix Headquarters 1000 Hollingshead Cir, Murfreesboro, Tennessee, 37129, United States Phone Number (615) 355-1028 Website www.smyrnareadymix.com Revenue $340.1M Industry Building Materials Further information on the EU endorsement status and on the Moody's office that issued the credit rating is available on www.moodys.com.The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody's affiliates outside the UK and is endorsed by Moody's Investors Service Limited, One Canada Square, Canary Wharf, London E14 5FA under the law applicable to credit rating agencies in the UK. Careers, Place An Order Credit Application Price talk for the seven-year covenant-lite term loan B is L+375-400, with a 0.75% Libor floor, offered at 99. Within six months of launching the company, other area concrete finishers began ordering. Smyrna Ready Mix LLC today completed its $830 million offering of eight-year senior secured notes via J.P. Morgan, BNP Paribas, BofA Securities, and Goldman Sachs. The division is only a few years old but already counts 16 quarries that include plants to create crushed limestone, river rock and natural sand products. SRM Concrete's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. 42% of survey respondents approved of the leadership response to COVID-19. Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. SRM acquires Bayou Materials in Jackson, Alabama. MCO and Moodys Investors Service also maintain policies and procedures to address the independence of Moodys Investors Service credit ratings and credit rating processes. close alert. Meritain Information Real-time data in the palm of your hand gives our customers confidence and control. Our website makes it easy to find the machines you need fast. Featured Products Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. We started Smyrna Ready Mix to service our own concrete needs, because we were not receiving reliable customer service from the local ready-mix companies. Social Responsibilty Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. Investor Contact: Suzanne Osberg Vice President, Investor Relations (919) 783-4691 Suzanne.Osberg@martinmarietta.com MLM-G MOODYS credit rating is an opinion as to the creditworthiness of a debt obligation of the issuer, not on the equity securities of the issuer or any form of security that is available to retail investors.Additional terms for Japan only: Moody's Japan K.K. In addition, Moody's credit rating is supported by the company's solid EBITDA margins and commitment to maintain modest leverage and good liquidity. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider's credit rating. SRM acquires Southeast Ready Mix based in Savannah, Georgia. a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby discloses that most issuers of debt . Company Store Smyrna Ready Mix: Employee Directory | ZoomInfo.com info@smyrnareadymix.com Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided AS IS without warranty of any kind. (615) 355-1028 Contact Us Thu December 23, 2021 Eric Olson - CEG CONTRIBUTING EDITOR. Company Store Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. While Rokbak continues to build a global reputation for robust and reliable articulated haulers, just 50 mi. About Us SRM Concrete is a family owned and operated ready-mix company founded by Melissa and Mike Hollingshead in 1999. Having Ryan as president of one of SRM's major divisions, and his other son, Jeff, serve as both company CEO and the family member in charge of the ready-mix operations, has allowed Mike Hollingshead in 2021 to enjoy his status as founder and owner. Smyrna Ready Mix prints upsized secured notes to yield 6%; terms, Banking Essentials Newsletter: 5th May Edition, Banking Essentials Newsletter: 19th April Edition, According to Market Intelligence, April 2023, Banking Essentials Newsletter: 5th April Edition. This rating reflects BBB's opinion about the entire organization's interactions with its customers, including interactions with local locations. Please refer to Moody's Policy for Designating and Assigning Unsolicited Credit Ratings available on its website www.moodys.com.Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.Moody's general principles for assessing environmental, social and governance (ESG) risks in our credit analysis can be found at http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1288235.At least one ESG consideration was material to the credit rating action(s) announced and described above.The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody's affiliates outside the EU and is endorsed by Moody's Deutschland GmbH, An der Welle 5, Frankfurt am Main 60322, Germany, in accordance with Art.4 paragraph 3 of the Regulation (EC) No 1060/2009 on Credit Rating Agencies. Although now headquartered in Nashville, the Hollingshead family company has not forgotten the site and the service that helped put it on the map years ago. Hollingshead Mixer Company LLC 200 Dekko Dr Avilla, IN 46710 IN Steve Howard (260) 897-4397: Steve . 2022 SRM Concrete, All Rights Reserved. Smyrna Ready Mix Concrete, LLC manufactures and supplies concrete products. . Our Team 51 Champion Rd. SRM acquires Premier Concrete and Elite in Georgia. For more information about SRM Concrete, visit www.smyrnareadymix.com/locations.asp. info@smyrnareadymix.com SRM Concrete is pleased to announce the acquisition of USC-Atlantic, LLC, a subsidiary of U.S. Bloomberg Markets is focused on bringing you the most important global business and breaking markets news and information as it happens. (615) 355-1028 SRM opens new plant in Panama City Beach. As a matter of policy, BBB does not endorse any product, service or business. Financing also includes a $100 million ABL revolver due 2025 with a springing fixed-charge covenant, S&P Global Ratings said in a report. Included in this acquisition are 28 ready-mix locations in New York, New Jersey, and Pennsylvania. Smyrna Ready Mix Concrete LLC | Better Business Bureau Profile Smyrna Ready Mix, LLC. | Better Business Bureau Profile Social Responsibilty The outlook remains stable.The rating upgrades reflect Moody's expectation of the continued strengthening of Smyrna's credit profile following the successful integration of several bolt-on acquisitions during 2020 and 2021, a larger and more geographically diversified revenue base, greater predictability of free cash flow, and a commitment by the management team to maintain modest leverage.The Ba3 rating assigned to the $650 million senior secured term loan facility maturing in 2029 and to the $1,100 million Senior Secured Notes maturing in 2028, is on par with the CFR reflecting their position as the preponderance of debt in Smyrna's capital structure. Smyrna Ready Mix Concrete, LLC - Yahoo Finance content Financing also includes a $100 million ABL revolver due 2025 with a springing fixed-charge covenant, Ratings notes. SRM acquires Cornerstone Ready Mix based in Augusta, Georgia. About Us Pro forma for the proposed financing and the bolt-on acquisitions, Moody's projects Smyrna's leverage will be 3.9x at December 31, 2022 (including Moody's adjustments).Over the past three years, Smyrna has materially grown its profitability (organically and through acquisitions), invested in the business, and maintained a disciplined approach to balance sheet management and liquidity." SRM acquires Georgia based CAB Concrete and Candler Ready Mix. Social Responsibilty Social Responsibilty A sister division, SRM Block, also makes quality concrete block (CMU), architectural block (ACMU) and retaining wall products (SRW). Careers, Place An Order Meritain Information The German company Bscher started in 1961 as a concrete plant and its business grew with, among others, a container service. What was once a simple ready-mix plant is now a company capable of handling the multiple needs of countless numbers of building contractors. That acquisition was just one of many that SRM Concrete made over the years as its coffers grew and it identified opportunities to move into new markets. We just feel comfortable with them. L.A. After meeting with the companys new team members, SRM Chairman, Mike Hollingshead stated, We are looking forward to building relationships with our new SRM team members and their families for years to come.. SRM Concrete Careers and Employment | Indeed.com SRM acquires Bigos Precast based in Fowlerville, Michigan. Looking for more information? "We crush rock here at Smyrna, but of all our many locations, this plant means more to us because we were born and raised within a quarter mile of this facility," Ryan said. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. Smyrna Ready Mix Concrete serves construction industry in the United States. SRM acquires BayCrete Concrete and Alamo Ready Mix in Texas. Aggregate Equipment Guide is the best source for news, how-to's and equipment for the Aggregate Industry. Moody's assigns B1 CFR to Smyrna; B1 to sr. secured credit facility Smyrna Ready Mix Concrete, better known as SRM Concrete, offers a range of services, but its concentration on ready-mix, mining and materials production has made it one of the fastest growing operations in the eastern half of the United States. This addition is one of SRMs largest acquisitions to date with over 600 new team members. 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