Credit Application CONTACT US CONCRETE CALCULATOR CUSTOMER LOGIN Products & Services ConcreteSRM MaterialsBlockProductsPumpingHollingshead CementHollingshead Harbor Customers Careers, Place An Order The deal was upsized from $515 million and pricing finalized at the wide end of guidance, according to market sources. "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. /marketintelligence/en/news-insights/latest-news-headlines/smyrna-ready-mix-prints-upsized-secured-notes-to-yield-6-terms-61038516 Metro Ready Mix Concrete | The Greystone Group "I want to deal with people I trust and that goes a long way. Our website makes it easy to find the machines you need fast. SRM opens Harbor in Panama City Beach, Florida. Performance & security by Cloudflare. SRM Acquires Kentucky based Kentucky Concrete. 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.". Murfreesboro, TN 37129 BBB Business Profiles may not be reproduced for sales or promotional purposes. Social Responsibilty 2022 SRM Concrete, All Rights Reserved. Meritain Information MOODYS ISSUES ITS CREDIT RATINGS, ASSESSMENTS AND OTHER OPINIONS AND PUBLISHES ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. SRM acquires Argos Panhandle division in Florida. International Association of Better Business Bureaus. 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. 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. "[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. content info@smyrnareadymix.com Smyrna Ready Mix Concrete, LLC - Myrtle Beach, SC - Ready-Mixed Concrete ET on Oct. 29. About Us SRM acquires 24 plants from Argos in the Dallas/Fort Worth market. Quarry Meet Growth Challenges, VIDEO: ESCO PosiGrab II Hydraulic Coupler, Place an equipment listing on Aggregate Equipment Guide. Financing also includes a $100 million ABL revolver due 2025 with a springing fixed-charge covenant, S&P Global Ratings said in a report. Smyrna Ready Mix, LLC. | Better Business Bureau Profile Privacy Policy SRM acquires Southeast Ready Mix based in Savannah, Georgia. "We don't have the turmoil you sometimes see in family-owned businesses. 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. Our company continues to expand, but our mission to provide every customer with quality concrete and unmatched service remains the same. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints. /marketintelligence/en/news-insights/latest-news-headlines/smyrna-ready-mix-concrete-launches-315m-tlb-commitments-due-oct-29-60880910 This rating reflects BBB's opinion about the entire organization's interactions with its customers, including interactions with local locations. Company profile page for Smyrna Ready Mix Concrete LLC including stock price, company news, press releases, executives, board members, and contact information CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. 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. The J.P. Morgan-led deal launched with a lender call today, and commitments are due at 5 p.m. 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 Sequatchie Concrete serving the East TN, North AL, and North GA markets. SRM Concrete's Huge Success Due to Teamwork of Family 2022 SRM Concrete, All Rights Reserved. Cloudflare Ray ID: 7c09a60ae9f8f118 About Us info@smyrnareadymix.com SRM acquires Georgia based CAB Concrete and Candler Ready Mix. 51 Champion Rd. close alert. Financing also includes a $100 million ABL revolver due 2025 with a springing fixed-charge covenant, Ratings notes. Locations Social Responsibilty Within six months of launching the company, other area concrete finishers began ordering. Hollingshead Mixer Company LLC 200 Dekko Dr Avilla, IN 46710 IN Steve Howard (260) 897-4397: Steve . SRM acquires Bigos Precast based in Fowlerville, Michigan. Price talk for the seven-year covenant-lite term loan B is L+375-400, with a 0.75% Libor floor, offered at 99. SRM Concrete | Quality Concrete, Unmatched Service (MJKK) is a wholly-owned credit rating agency subsidiary of Moody's Group Japan G.K., which is wholly-owned by Moodys Overseas Holdings Inc., a wholly-owned subsidiary of MCO. BBB reports on known marketplace practices. SRM opens new plant in Panama City Beach. Smyrna Quarry - 88 5967 Hickory Grove Rd Murfreesboro, TN 37129 TN Travis Wagner . MOODYS PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODYS ANALYTICS, INC. SRM Concrete products are designed to increase the strength, workability, and quality of the concrete our customers receive. 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. Featured Products Smyrna Ready Mix Investor Contact: Suzanne Osberg Vice President, Investor Relations (919) 783-4691 Suzanne.Osberg@martinmarietta.com MLM-G SRM Concrete is pleased to announce the acquisition of USC-Atlantic, LLC, a subsidiary of U.S. SMYRNA, TN - November 25th, 2022. Contact Information. 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. 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.". With very little money and three trucks, we built a concrete plant in our own backyard at 4500 Hickory Grove Road in Murfreesboro, Tenn. (615) 355-1028. About Us 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. "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. "I can assure you that my dad is heavily involved in everything he can get his hands on," Ryan said with a laugh. 1136 Second Avenue North. Smyrna Ready Mix Concrete serves construction industry in the United States. Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. content 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 SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle Average of 11 Customer Reviews. If you are interested in joining a team dynamic that separates from the rest, let's talk. SRM acquires Reed Ready Mix based in Huntsville, Alabama. Included in this acquisition are 28 ready-mix locations in New York, New Jersey, and Pennsylvania. This is largely driven by Moody's view that the US economy will improve sequentially and remain supportive of the company's underlying growth drivers.The proposed term loan includes an ability to incur incremental indebtedness up to either $500 million, or the greater of 100% of LTM EBITDA so long as the pro forma net leverage ratio does not exceed 3.85x for first lien debt and 4.35x for junior debt.FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGSThe ratings could be upgraded if the company improves free cash flow and maintains a conservative financial strategy such that debt-to-EBITDA is sustained below 3.5x, adjusted retained cash flow to net debt is approaching 20%, and EBIT-to-interest expense is approaching 3.0x.The ratings could be downgraded if the company's operating performance and liquidity deteriorates and financial strategy becomes aggressive such that debt-to-EBITDA is sustained above 4.5x, adjusted retained cash flow to net debt is below 10%, and EBIT-to-interest expense is sustain below 2.0x.The principal methodology used in these ratings was Building Materials published in September 2021 and available at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1287900. SRM acquires Florida based Florida Roads. This website is using a security service to protect itself from online attacks. Eric Johnson, president and founder of Ceasars Equipment, grew up around the aggregate business and has always had a passion for aggregate machines. Huntsville, TX 77340. SRM Concrete is pleased to announce the acquisition of USC-Atlantic, LLC, a subsidiary of U.S. Smyrna Ready Mix Concrete, LLC is a manufacturer and retailer of ready-mixed concrete in Tennessee, Florida, Kentucky, Ohio, Indiana, Texas, Georgia, Alabama, Arkansas, Michigan, South Carolina and Virginia. "It has been a privilege to work with Harper Industries over the past . 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. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. SRM acquires concrete company in Danville, Kentucky. Smyrna Ready Mix LLC is a provider of ready-mix concrete, aggregates, and other concrete-related products and services. We just feel comfortable with them. 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. SRM Concrete's reach and presence is unmatched in the industry. Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. , 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. CEO, Jeff Hollingshead stated, We are excited to expand into this incredible market. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. Company Store Due to the bond offering's size increase, the issuer pulled a proposed $315 million, seven-year term loan B. Smyrna Ready Mix LLC is a provider of ready-mix concrete, aggregates, and other concrete-related products and services. smyrna ready mix concrete llc smyrna ready mix llc srm concrete smyrna ready mix srmconcrete smyrna ready mix concrete Smyrna Ready Mix Global Presence Search All Employees 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. Privacy Policy SRM acquires Florida based Griswold Concrete and KMR Concrete. Aggregate Equipment Guide is a project of Construction Equipment Guide, putting machines in front of buyers for over 60 years. Smyrna Ready Mix Concrete launches $315M TLB; commitments due Oct. 29 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). The J.P. Morgan-led deal launched with a lender call today, and commitments are due at 5 p.m. Ryan Hollingshead (L), president of SRM Aggregates, and Mike Hollingshead, founder of SRM Concrete. 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. SRM acquires Kentucky based All-Rite Ready Mix and Tucker Ready Mix. Social Responsibilty Smyrna Ready Mix Concrete LLC - Company Profile and News Nashville, TN 37208. SRM Concrete locations. SRM acquires Premier Concrete and Elite in Georgia. In addition, Moody's credit rating is supported by the company's solid EBITDA margins and commitment to maintain modest leverage and good liquidity. latest-news-headlines Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. 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. Concrete, Inc., which is wholly owned by Vulcan Materials Company. "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.". 5303 S Lake Houston Pkwy. SRM acquires Sagamore Ready Mix in the Indianapolis market. Meritain Information . 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. MCO and Moodys Investors Service also maintain policies and procedures to address the independence of Moodys Investors Service credit ratings and credit rating processes. Credit Application (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. But that's not to say he isn't involved with SRM's operations. (615) 355-1028 Locations Market Intelligence 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. 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. The asset based revolving credit facility, which expires in 2026, is governed by a springing fixed-charge coverage ratio of 1.0x, that comes into effect if availability under the asset based revolving credit facility is less than 15% of the total revolver availability.The stable outlook reflects Moody's expectation that Smyrna will grow revenue organically, maintain good operating performance, generate solid free cash flow, and remain committed to modest leverage. Cementos Argos said that the divestment is part of its plan to . A sister division, SRM Block, also makes quality concrete block (CMU), architectural block (ACMU) and retaining wall products (SRW). Today, SRM is still rooted in providing superior customer service, just as it was in the early days when the personal touch was key to the growth of Mike Hollingshead's company. 50.69421 \\ 3.17456 \\ 213.32.24.66 \\ Roubaix \\ Hauts-de-France. 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. SEE APPLICABLE MOODYS RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODYS CREDIT RATINGS. "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. For more information about Power Equipment, visit www.powerequipco.com. Smyrna Ready Mix Concrete LLC is in market today with a $315 million term loan B, according to sources. SRM acquires Kentucky based Grant County Ready Mix and Gallatin County Ready Mix. SRM acquires BayCrete Concrete and Alamo Ready Mix in Texas. 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.