BBB Business Profiles are provided solely to assist you in exercising your own best judgment. Smyrna Ready Mix Concrete LLC is in market today with a $315 million term loan B, according to sources. Company Store Contact Us BBB reports on known marketplace practices. 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. Eric Johnson, president and founder of Ceasars Equipment, grew up around the aggregate business and has always had a passion for aggregate machines. , Factbox-U.S. debt ceiling standoff: Platinum coins, the 14th Amendment could be paths out, White House to study employer tools that monitor workers, Attacks on delivery drivers add fears among gig workers, Milken Latest: PGIMs CEO Says Markets Are Too Optimistic Now, US STOCKS-S&P, Dow edge higher as JPMorgan gains; Fed meet in focus. We just feel comfortable with them. With its concrete production, SRM concentrates its attention on residential projects, he said, adding that it is working at many large home developments along the East Coast. 5303 S Lake Houston Pkwy. By continuing to access this document from within Australia, you represent to MOODYS that you are, or are accessing the document as a representative of, a wholesale client and that neither you nor the entity you represent will directly or indirectly disseminate this document or its contents to retail clients within the meaning of section 761G of the Corporations Act 2001. Proceeds will be used to fund certain acquisitions, to refinance existing debt and for general corporate purposes. 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. 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. "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. 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. For more information about Power Equipment, visit www.powerequipco.com. Market Intelligence Aggregate Equipment Guide is the best source for news, how-to's and equipment for the Aggregate Industry. 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. 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. Financing also includes a $100 million ABL revolver due 2025 with a springing fixed-charge covenant, S&P Global Ratings said in a report. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. (615) 355-1028 Careers, Place An Order MCO and Moodys Investors Service also maintain policies and procedures to address the independence of Moodys Investors Service credit ratings and credit rating processes. SRM opens new plant in Panama City Beach. Visit Website (513) 871 . content Moody's also assigned a Ba3 rating to the company's proposed senior secured credit facility. Our Team Read more. SRM acquires BayCrete Concrete and Alamo Ready Mix in Texas. Read more. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity. Contact Information. The J.P. Morgan-led deal launched with a lender call today, and commitments are due at 5 p.m. SRM acquires St. Johns River Concrete based in Palatka, Florida. While Rokbak continues to build a global reputation for robust and reliable articulated haulers, just 50 mi. Featured Products Further information on the UK endorsement status and on the Moody's office that issued the credit rating is available on www.moodys.com.Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating. Within six months of launching the company, other area concrete finishers began ordering. "It has been a privilege to work with Harper Industries over the past . 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. Smyrna Ready Mix LLC is a provider of ready-mix concrete, aggregates, and other concrete-related products and services. latest-news-headlines For more information about Smyrna Ready Mix Concrete, visit www.smyrnareadymix.com. Bloomberg Chief Washington Correspondent Joe Mathieu delivers insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. 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. Locations 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. Terms: latest-news-headlines For a complete list of our locations and to learn more about SRM Concrete, please visit smyrnareadymix.com. "We started here and now consider it our signature quarry for digging limestone that we use to make numerous things, like concrete and asphalt for road construction.". Smyrna Ready Mix Concrete focuses on providing building material services across the commercial and residential construction segments. It is classified as operating in the Nonmetallic Mineral Product Manufacturing industry. For Buyers: View Search History and Save Searches; Save Supplier Listings and Add Notes; 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. Click to reveal Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. "My main goal is keeping everyone safe," Ryan said. SRM Concrete locations. 2023, International Association of Better Business Bureaus, Inc., separately incorporated Better Business Bureau organizations in the US, Canada and Mexico and BBB Institute for Marketplace Trust, Inc. All rights reserved. Non-NRSRO Credit Ratings are assigned by an entity that is not a NRSRO and, consequently, the rated obligation will not qualify for certain types of treatment under U.S. laws. For more information about SRM Concrete, visit www.smyrnareadymix.com/locations.asp. Privacy Policy 50.69421 \\ 3.17456 \\ 213.32.24.66 \\ Roubaix \\ Hauts-de-France. SMYRNA READY MIX CONCRETE LLC : DBA Name: SRM CONCRETE - PIQUA CONCRETE - SRM JONES AND STONE DRILLING - HOLLINGSHEAD CEMENT : Physical Address: 1000 HOLLINGSHEAD CIRCLE MURFREESBORO, TN 37129 Phone: (615) 355-1028 Mailing Address: 1136 SECOND AVE NORTH NASHVILLE, TN 37208 USDOT Number: 1738904 : State Carrier ID Number: 51 Champion Rd. 18of the plants are situated in North Carolina and the remainder in Southwest Florida. In fact, he added, "There is not one complaint against Power Equipment that I could ever make. (615) 355-1028 2022 SRM Concrete, All Rights Reserved. CEO, Jeff Hollingshead stated, "We are excited to . CEO, Jeff Hollingshead stated, We are excited to expand into this incredible market. At-a-glance. For almost 40 years, SBM Mineral Processing has been consistently using diesel-electric drive systems and is a supplier of cross-technological hybrids for track-mobile jaw and impact crushers from under 50,000 to 350,000 lbs. Murfreesboro, TN 37129 In addition, Moody's credit rating is supported by the company's solid EBITDA margins and commitment to maintain modest leverage and good liquidity. info@smyrnareadymix.com The action you just performed triggered the security solution. 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. ET on Oct. 29. Back in 1999, Mike and Melissa Hollingshead decided that they needed to build a ready-mix concrete plant in their own Middle Tennessee backyard. "Keep in mind that we also have sand mines, granite mines and gravel pits. 2022 SRM Concrete, All Rights Reserved. Hollingshead Mixer Company LLC 200 Dekko Dr Avilla, IN 46710 IN Steve Howard (260) 897-4397: Steve . Moody's Rating Symbols and Definitions can be found at: https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_79004.For ratings issued on a program, series, category/class of debt or security this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series, category/class of debt, security or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. All rights reserved.CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODYS (COLLECTIVELY, PUBLICATIONS) MAY INCLUDE SUCH CURRENT OPINIONS. The company operates within two primary segments: (i) ready-mixed concrete, which accounts for more than 90% of revenue, and (ii) aggregates and other construction materials, which accounts for the remaining % amount.Smyrna's revenue for the last twelve months ending December 31, 2021, was about $1.5 billion.REGULATORY DISCLOSURESFor further specification of Moody's key rating assumptions and sensitivity analysis, see the sections Methodology Assumptions and Sensitivity to Assumptions in the disclosure form. The Company offers concrete mix designs, admixtures, reinforcing products, stone, gravel, sand, soil, pumping, and hauling includes footers, slabs, and accelerators. Locations SRM Concrete is the largest ready-mix concrete supplier in the United States with locations spanning 16 states. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Gretchen French Associate Managing Director Corporate Finance Group JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Releasing Office: Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. About Us Lenders are offered six months of 101 soft call protection. 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.". Smyrna Ready Mix Concrete serves construction industry in the United States. "That is what made him want to put up his own concrete plant.". We list equipment in all the major aggregate categories including conveyors, feeders, stackers, crushers, magnets, screening equipment, washing equipment, and more. "I can assure you that my dad is heavily involved in everything he can get his hands on," Ryan said with a laugh. Careers, Place An Order Privacy Policy (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice, SRM Acquires Young Trucking in Southwest Florida, SRM Acquires Titan Ready Mix in Covington, GA, SRM Acquires Darby Ready Mix in Southeast Michigan, SRM Acquires Clinton-Tecumseh Aggregates in Southeast Michigan, SRM Acquires 18 Argos ready-mix locations in NC and Florida, SRM Acquires 37 ready-mix locations in Colorado, Wyoming, and Texas, SRM Acquires Charley's Concrete in the DFW Market, SRM Acquires JJ's Concrete in Central Indiana, SRM Acquires Louisville-based Allstate Ready Mix, SRM Acquires Jones & Stone Drilling in Middle Tennessee, SRM Acquires Bowling Green Concrete in South Central Kentucky, SRM Acquires T&H Concrete Products in Lewisburg, TN, SRM Acquires Indiana Phoenix Mixer Company, Hollingshead Cement Opens Cement Terminal in Middletown, OH. SRM acquires Florida based Griswold Concrete and KMR Concrete. When it is time to replace or add new units, SRM Concrete has chosen to purchase all its machinery from Power Equipment's Nashville branch, a testament to the expertise of the dealership that a construction services company of SRM's size would rely so heavily upon it. esgSubNav, Discover more about S&P Globals offerings, Global Credit and Risk Symposium: Unlocking Possibilities, pulled a proposed $315 million, seven-year term loan B, Non-call three (first call at par +50% coupon), JW Marriott Sao Paulo Av. content 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. 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. Locations SRM Concrete has pursued an active acquisition strategy, having successfully acquired and integrated over eightycompanies since 2005. This website is using a security service to protect itself from online attacks. "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. Quarry, located in La Fargeville, N.Y., has been serving the north country of New York State with crushed limestone, sand and topsoil for the past 25 years. Average of 11 Customer Reviews. Alternatively, please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.Smyrna Ready Mix Concrete, LLC is a manufacturer and retailer of ready-mixed concrete in Tennessee, Florida, Kentucky, Ohio, Indiana, Texas, Georgia, Colorado, Alabama, Arkansas, Michigan, South Carolina, North Carolina, Mississippi, Wyoming and Virginia. Company Store
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