Smyrna Ready Mix Concrete LLC is in market today with a $315 million term loan B, according to sources. The headquarters for SRM Concrete are in 1000 Hollingshead Circle Smyrna, TN 37129. Murfreesboro, TN 37129 BBB Business Profiles are provided solely to assist you in exercising your own best judgment. 2022 SRM Concrete, All Rights Reserved. FIND A SUPPLIER: GET A QUOTE: INDUSTRYNET BLOG: ABOUT INDUSTRYNET: MARKETING SOLUTIONS : IndustryNet Account. 4505 Anchorage Rd. "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. (615) 355-1028 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. We have a good relationship that is carried over to our business. This documentary-style series follows investigative journalists as they uncover the truth. Featured Products In addition, Moody's credit rating is supported by the company's solid EBITDA margins and commitment to maintain modest leverage and good liquidity. 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." Careers, Place An Order 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. Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. All complaints are handled by the BBB where the company is Headquartered or a central customer complaint processing location. Established in 1999 by Mike and Melissa Hollingshead in Smyrna, Tennessee, the family-owned company owns and operates an expansive network of ready-mix concrete plants, quarries, cement terminals, and other ancillary services. SRM Concrete has pursued an active acquisition strategy, having successfully acquired and integrated over eightycompanies since 2005. 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. "It has been a privilege to work with Harper Industries over the past . Smyrna Ready Mix Concrete LLC is in market today with a $315 million term loan B, according to sources. 42% of survey respondents approved of the leadership response to COVID-19. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. SRM Acquires Indiana based Spurlino Materials. Hollingshead Mixer Company LLC 200 Dekko Dr Avilla, IN 46710 IN Steve Howard (260) 897-4397: Steve . SRM Concrete's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. Credit Application *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. At-a-glance. Financing also includes a $100 million ABL revolver due 2025 with a springing fixed-charge covenant, Ratings notes. , 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. Looking for more information? This website is using a security service to protect itself from online attacks. Privacy Policy While Rokbak continues to build a global reputation for robust and reliable articulated haulers, just 50 mi. From manufacturers such as Cedarapids, Doppstadt, Extec, Kleemann, McCloskey, Metso, Nordberg, Pioneer, Powerscreen, Screen Machine, Superior, Terex, and more. Social Responsibilty SRM Concrete opened the second quarter confirming the acquisition of 67 ready mixed plants in five states. Credit Application Social Responsibilty 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. Careers, Place An Order Locations SRM acquires Anchor Ready Mix based in Cincinnati, Ohio. 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. The company also has been involved in many commercial jobs throughout its territories. ET on Oct. 29. Market Intelligence SRM acquires 24 plants from Argos in the Dallas/Fort Worth market. Careers, Place An Order "[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. 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. Our Team Locations Rating Action: Moody's upgrades Smyrna's CFR to Ba3; Assigns Ba3 to senior secured debt; outlook stableGlobal Credit Research - 10 Mar 2022New York, March 10, 2022 -- Moody's Investors Service (Moody's) upgraded Smyrna Ready Mix Concrete, LLC's (Smyrna) Corporate Family Rating (CFR) to Ba3 from B1, Probability of Default Rating (PDR) to Ba3-PD from B1-PD, and the rating on the company's senior secured notes to Ba3 from B1. Murfreesboro, TN 37129 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. Thu December 23, 2021 Eric Olson - CEG CONTRIBUTING EDITOR. Company Store SRM Concrete locations. (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 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 SRM acquires Sequatchie Concrete serving the East TN, North AL, and North GA markets. 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. Read more. Smyrna Ready Mix Concrete serves construction industry in the United States. "We now have over 300 concrete plants, and we have another set of deals coming up in the first quarter of 2022," Ryan Hollingshead said. Smyrna Ready Mix Concrete focuses on providing building material services across the commercial and residential construction segments. SRM provides quality ready mix concrete and construction materials to our customers throughout sixteen states. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. AND/OR ITS AFFILIATES. How has SRM Concrete responded to COVID-19? Through hard work and the grace of God, Smyrna Ready Mix grew. Careers, Place An Order close alert. "Keep in mind that we also have sand mines, granite mines and gravel pits. SRM acquires Florida based Griswold Concrete and KMR Concrete. SRM Acquires Transit Mix based in Johnson City, TN. SRM opens new plant in Panama City Beach. info@smyrnareadymix.com BBB Business Profiles are subject to change at any time. 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. SRM acquires Georgia based CAB Concrete and Candler Ready Mix. Ryan Hollingshead (L), president of SRM Aggregates, and Mike Hollingshead, founder of SRM Concrete. Headquartered in Smyrna, Tennessee, we serve customers in 19 states with more than 6,300 team members. 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. 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. If you are interested in joining a team dynamic that separates from the rest, let's talk. 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. MCO and Moodys Investors Service also maintain policies and procedures to address the independence of Moodys Investors Service credit ratings and credit rating processes. 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. After seeing 140,000 visitors and a positive mood in all participating industries, ConExpo-Con/AGG closed with an extremely positive result. For a complete list of our locations and to learn more about SRM Concrete, please visit smyrnareadymix.com. Locations Credit Application Smyrna Ready Mix Concrete, LLC is located in Myrtle Beach, SC and is a supplier of Ready-Mixed Concrete. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 2022 Moodys Corporation, Moodys Investors Service, Inc., Moodys Analytics, Inc. and/or their licensors and affiliates (collectively, MOODYS). BBB Business Profiles generally cover a three-year reporting period. Murfreesboro, TN 37129 Company Store "My main goal is keeping everyone safe," Ryan said. Performance & security by Cloudflare. However, MOODYS is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications.To the extent permitted by law, MOODYS and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability to any person or entity for any indirect, special, consequential, or incidental losses or damages whatsoever arising from or in connection with the information contained herein or the use of or inability to use any such information, even if MOODYS or any of its directors, officers, employees, agents, representatives, licensors or suppliers is advised in advance of the possibility of such losses or damages, including but not limited to: (a) any loss of present or prospective profits or (b) any loss or damage arising where the relevant financial instrument is not the subject of a particular credit rating assigned by MOODYS.To the extent permitted by law, MOODYS and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability for any direct or compensatory losses or damages caused to any person or entity, including but not limited to by any negligence (but excluding fraud, willful misconduct or any other type of liability that, for the avoidance of doubt, by law cannot be excluded) on the part of, or any contingency within or beyond the control of, MOODYS or any of its directors, officers, employees, agents, representatives, licensors or suppliers, arising from or in connection with the information contained herein or the use of or inability to use any such information.NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY CREDIT RATING, ASSESSMENT, OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODYS IN ANY FORM OR MANNER WHATSOEVER.Moodys Investors Service, Inc., a wholly-owned credit rating agency subsidiary of Moodys Corporation (MCO), hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by Moodys Investors Service, Inc. have, prior to assignment of any credit rating, agreed to pay to Moodys Investors Service, Inc. for credit ratings opinions and services rendered by it fees ranging from $1,000 to approximately $5,000,000. Cloudflare Ray ID: 7c09a60ae9f8f118 The German company Bscher started in 1961 as a concrete plant and its business grew with, among others, a container service. It has surprised me, too, that despite being such a large distributor, dealing primarily with brands such as Komatsu, Epiroc and Sennebogen through Power makes it feel like you are working with a small, local company. The Company offers concrete mix designs, admixtures, reinforcing products, stone, gravel, sand, soil, pumping, and hauling includes footers, slabs, and accelerators. SRM opens Harbor in Panama City Beach, Florida. Visit Website. The J.P. Morgan-led deal launched with a lender call today, and commitments are due at 5 p.m. For more information about Power Equipment, visit www.powerequipco.com. Cementos Argos said that the divestment is part of its plan to . Meritain Information Moodys SF Japan K.K. You can email the site owner to let them know you were blocked. MOODYS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. Visit Website (513) 871 . SRM Concrete is a family owned and operated ready-mix company founded by Melissa and Mike Hollingshead in 1999. SRM acquires Hicks Concrete based in Mulberry, Florida. Our website makes it easy to find the machines you need fast. 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 Concrete | Quality Concrete, Unmatched Service SRM provides quality ready mix concrete and construction materials to our customers throughout sixteen states. For years now, the Austrian processing specialist SBM Mineral Processing has been one of the technology leaders in economical hybrid drives and intelligent, interactive process controls for track-mounted crushing plants. 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: Note: Revenues for privately held companies are statistical evaluations. 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. 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. About Us Included in this acquisition are 28 ready-mix locations in New York, New Jersey, and Pennsylvania. Contact Us close alert. Moody's also assigned a Ba3 rating to the company's proposed senior secured credit facility. A sister division, SRM Block, also makes quality concrete block (CMU), architectural block (ACMU) and retaining wall products (SRW). (615) 355-1028 Social Responsibilty Developed for ease-of-use and operator safety, ESCO's latest innovation the ESCO PosiGrab II hydraulic coupler has undergone extensive testing and benchmarking against similar products. 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. . 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. Company profile page for Smyrna Ready Mix Concrete LLC including stock price, company news, press releases, executives, board members, and contact information SEE APPLICABLE MOODYS RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODYS CREDIT RATINGS. SRM acquires Detroit based McCoig Concrete. Through SRM Products, the parent company has expanded into building and maintaining facilities to support its different construction services, such as warehouses that stock and deliver a variety of concrete related products, including rebar, wire mesh, form lumber, masonry materials, waterproofing materials, decorative and color materials and finishing tools. SAN DIEGO (August 5, 2014) - The Greystone Group announced today that it served as exclusive financial advisor to Harper Industries, Inc. in the sale of its subsidiary, Metro Ready Mix Concrete to Smyrna Ready Mix Concrete.Metro Ready Mix is the 3 rd transaction managed by Greystone for Harper in the past 5 years. content Proceeds will be used to fund certain acquisitions, refinance existing debt and for general corporate purposes. Featured Products Houston, TX 77049-2660. CEG. Following this acquisition, SRM employs over 6,000 team members with locations that span 19 states. Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. 50.69421 \\ 3.17456 \\ 213.32.24.66 \\ Roubaix \\ Hauts-de-France. Terex MP, global manufacturer of materials processing and lifting machinery, announced the purchase of MARCO, a manufacturer of bulk material handling conveyors, based in Mt. The J.P. Morgan-led deal launched with a lender call today, and commitments are due at 5 p.m. info@smyrnareadymix.com SRM acquires Vulcan Materials in Richmond, Virginia. SRM acquires Federal Materials Concrete based in Paducah, Kentucky. Eric Johnson, president and founder of Ceasars Equipment, grew up around the aggregate business and has always had a passion for aggregate machines. 2022 SRM Concrete, All Rights Reserved. The largest of four transactions announced April 1 netted 37 central Texas, Colorado and Wyoming sites from Martin Marietta Materials, which had indicated an asset sale agreement with SRM Concrete in mid-March. (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.
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