SRM acquires Sequatchie Concrete assets in Middle TN. SRM acquires 24 plants from Argos in the Dallas/Fort Worth market. But that's not to say he isn't involved with SRM's operations. (281) 837-5300. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. In addition, Moody's credit rating is supported by the company's solid EBITDA margins and commitment to maintain modest leverage and good liquidity. 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. This rating reflects BBB's opinion about the entire organization's interactions with its customers, including interactions with local locations. Delivering quality concrete with unmatched service, Supplying quality stone and materials for customers, Providing quality concrete construction products, Faster and more accurately in hard to reach places. 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). Ryan Hollingshead (L), president of SRM Aggregates, and Mike Hollingshead, founder of SRM Concrete. SRM acquires Kentucky based Grant County Ready Mix and Gallatin County Ready Mix. MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle Privacy Policy MCO and Moodys Investors Service also maintain policies and procedures to address the independence of Moodys Investors Service credit ratings and credit rating processes. 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. 2022 SRM Concrete, All Rights Reserved. Nashville, TN 37208. SRM Concrete has pursued an active acquisition strategy, having successfully acquired and integrated over eightycompanies since 2005. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle SRM opens sand plant in Crab Orchard, Tennessee. (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. Social Responsibilty SRM acquires Kentucky based All-Rite Ready Mix and Tucker Ready Mix. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. 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. SRM acquires Southeast Ready Mix based in Savannah, Georgia. The J.P. Morgan-led deal launched with a lender call today, and commitments are due at 5 p.m. "It has been a privilege to work with Harper Industries over the past . 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. Included in this acquisition are 28 ready-mix locations in New York, New Jersey, and Pennsylvania. In addition, SRM Concrete Pumping Services is strategically located in the Midwest, Mid-South, and Deep South, while in Nashville, Houston, Detroit and Panama City, Fla., another of its divisions offers harbor delivery services to customers that need their raw materials moved quickly and efficiently. Our Team The SRM Materials Division, for instance, provides a vast range of products made or mined at facilities from Michigan to Florida, and as far west as Texas. Meritain Information 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. Company Store "We don't have the turmoil you sometimes see in family-owned businesses. *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. Houston, TX 77049-2660. 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. The dedication and determination from an outstanding group of Mixer Operators drives the business growth and has allowed SRM Concrete to add more than 6,300 team members in 19 states. Investor Contact: Suzanne Osberg Vice President, Investor Relations (919) 783-4691 Suzanne.Osberg@martinmarietta.com MLM-G SRM Acquires Kentucky based Kentucky Concrete. (615) 355-1028 We list equipment in all the major aggregate categories including conveyors, feeders, stackers, crushers, magnets, screening equipment, washing equipment, and more. Within six months of launching the company, other area concrete finishers began ordering. Moodys SF Japan K.K. (615) 355-1028 With very little money and three trucks, we built a concrete plant in our own backyard at 4500 Hickory Grove Road in Murfreesboro, Tenn. . From the company's limestone mines, many in Tennessee and Alabama where the rock is abundant, 10 different aggregate sizes are produced, he said, although other products can be created with screen changes. 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. 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. Meritain Information CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. 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. About Us 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. SRM provides quality ready mix concrete and construction materials to our customers throughout sixteen states. MOODYS PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODYS ANALYTICS, INC. "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. Read more. Featured Products Contact Us Privacy Policy 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. 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 is a family owned and operated ready-mix company founded by Melissa and Mike Hollingshead in 1999. Company Store CEO, Jeff Hollingshead stated, We are excited to expand into this incredible market. Credit Application Transcript:The Supply Chain Crisis That Could Wreck the Bourbon Industry, Eskom Latest: Outages Intensify; Five CEO Candidates Shortlisted, Corporate America Focuses on Cost Cuts and Layoffs Not Growth, Peru Inflation Falls Below 8%, Supporting Central Bank Ambitions, IMF Chief Says Rising Rates Exposed Banking Vulnerabilities, Blackstones Real Estate Trust Limits Withdrawals for Sixth Straight Month, JPMorgans Venture Arm Makes Fertility Bet in $25 Million Deal, Jack Ma Joins University of Tokyo as Visiting Professor, Snap Hires Former Meta Execsto Bolster Ad Business, The White House Is Probing How Companies Use AI to Surveil and Manage Workers, McCarthy Says He Supports Aid to Ukraine, Urges Russia to Leave, Durbin Promises to Move Ahead With Supreme Court Ethics Legislation Despite Pushback, Dimon Defies Big-Bank Critics, Winning FDIC Auction to Keep Expanding, I Bond Rate Drops to 4.3% asCooling Inflation Drags YieldLower, Whats Trending Today: JPMorgan Buys First Republic, Virginia Tornado, Hollywood Writers Strike, Chinese Tourists, Loyal Wynn Guests Key for NewUAE Resort, Officials Say, JPMorgan Jumps to the Rescue at First Republic For a Price, If the BankingCrisis Offers One Lesson, Let It Be This, JPMorgan, First Republic and the Curse of the SecondBest, The Boring Old Box Truck Gets the Tesla Treatment, For Banks Under Stress, Theres a Federal Backstop That Provides Help Without Stigma, What the US Can Learn From Europes ESG Mistakes, Trump Is Denied Mistrial Over Unfair Rulings in E. Jean Carroll Case, Workers Well-BeingTops Agenda at Annual Shareholder Meetings, Bara DitchingPrivate Jet for Train Points toGreener Football, What to Know About Red-Flag Warnings, an Ominous WildfireForecast, Germany Sets the New Standard for Cheap, National Mass Transit, Chinas Now Spurning Ugliest Buildings That Symbolized Its Meteoric Rise, Broke Chinese Gen Zs Turn Factory Town into Top Tourist Spot, Nigerias SEC Plans to Allow Asset-Backed Tokens But Not Crypto, Bitcoin Sags After its Longest Streak of Monthly Gains Since 2021, Bitcoin on Course for Longest Streak of Monthly Gains Since 2021. CONTACT US CONCRETE CALCULATOR CUSTOMER LOGIN Products & Services ConcreteSRM MaterialsBlockProductsPumpingHollingshead CementHollingshead Harbor Customers 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. A sister division, SRM Block, also makes quality concrete block (CMU), architectural block (ACMU) and retaining wall products (SRW). Smyrna Ready Mix Concrete LLC is in market today with a $315 million term loan B, according to sources. 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. This website is using a security service to protect itself from online attacks. SRM acquires BayCrete Concrete and Alamo Ready Mix in Texas. Murfreesboro, TN 37129 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. BBB reports on known marketplace practices. 42% of survey respondents approved of the leadership response to COVID-19. Click to reveal Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. Read more. MSFJ is not a Nationally Recognized Statistical Rating Organization (NRSRO). This addition is one of SRMs largest acquisitions to date with over 600 new team members. Moody's also assigned a Ba3 rating to the company's proposed senior secured credit facility. 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. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. content Proceeds will be used to fund certain acquisitions, to refinance existing debt and for general corporate purposes. SRM acquires Bayou Materials in Jackson, Alabama. Thu December 23, 2021 Eric Olson - CEG CONTRIBUTING EDITOR. Hollingshead Mixer Company LLC 200 Dekko Dr Avilla, IN 46710 IN Steve Howard (260) 897-4397: Steve . 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.". IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER.ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODYS PRIOR WRITTEN CONSENT.MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK.All information contained herein is obtained by MOODYS from sources believed by it to be accurate and reliable. If you are interested in joining a team dynamic that separates from the rest, let's talk. 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. SRM acquires Florida based Griswold Concrete and KMR Concrete. The Company offers concrete mix designs, admixtures, reinforcing products, stone, gravel, sand, soil, pumping, and hauling includes footers, slabs, and accelerators. SRM Concrete is pleased to announce the acquisition of USC-Atlantic, LLC, a subsidiary of U.S. International Association of Better Business Bureaus. Locations Following this acquisition, SRM employs over 6,000 team members with locations that span 19 states. SMYRNA, TN - November 25th, 2022. Aggregate Equipment Guide is the best source for news, how-to's and equipment for the Aggregate Industry. 2 and 3 respectively.MJKK or MSFJ (as applicable) hereby disclose that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MJKK or MSFJ (as applicable) have, prior to assignment of any credit rating, agreed to pay to MJKK or MSFJ (as applicable) for credit ratings opinions and services rendered by it fees ranging from JPY100,000 to approximately JPY550,000,000.MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements. Company Store "I want to deal with people I trust and that goes a long way. . (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. info@smyrnareadymix.com close alert. Murfreesboro, TN 37129 BBB Business Profiles generally cover a three-year reporting period. The level of drive, determination and faith that the Hollingshead family possesses is clearly behind SRM Concrete's success. (MSFJ) is a wholly-owned credit rating agency subsidiary of MJKK. Eric Johnson, president and founder of Ceasars Equipment, grew up around the aggregate business and has always had a passion for aggregate machines. 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. 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. Locations Privacy Policy In fact, he added, "There is not one complaint against Power Equipment that I could ever make. L.A. 51 Champion Rd. Our website makes it easy to find the machines you need fast. SRM Concrete is pleased to announce the acquisition of USC-Atlantic, LLC, a subsidiary of U.S. SRM acquires Vulcan Materials in Richmond, Virginia. Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. "[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. Locations SRM acquires Hicks Concrete based in Mulberry, Florida. info@smyrnareadymix.com 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. We have a good relationship that is carried over to our business. Smyrna Ready Mix Concrete serves construction industry in the United States. 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. Smyrna Ready Mix Concrete, LLC is located in Myrtle Beach, SC and is a supplier of Ready-Mixed Concrete. Included in this acquisition are 28 ready-mix locations in New York, New Jersey, and Pennsylvania. Real-time data in the palm of your hand gives our customers confidence and control. 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. Locations SRM Concrete's reach and presence is unmatched in the industry. Headquartered in Smyrna, Tennessee, we serve customers in 19 states with more than 6,300 team members. 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. Back in 1999, Mike and Melissa Hollingshead decided that they needed to build a ready-mix concrete plant in their own Middle Tennessee backyard. 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. 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. 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. 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. Concrete, Inc., which is wholly owned by Vulcan Materials Company. 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. With very little money and three trucks, we built a concrete plant in our own backyard at 4500 Hickory Grove Road in Murfreesboro, Tenn. 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. SRM opens Harbor in Panama City Beach, Florida. Visit Website (513) 871 . If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. The action you just performed triggered the security solution. While Rokbak continues to build a global reputation for robust and reliable articulated haulers, just 50 mi. 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.". SRM Concrete is the largest ready-mix concrete supplier in the United States with locations spanning 16 states. ET on Oct. 29. At-a-glance. 18of the plants are situated in North Carolina and the remainder in Southwest Florida. Meritain Information Credit Application Company Store SRM Acquires Indiana based Spurlino Materials. 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 Acquires Transit Mix based in Johnson City, TN. Smyrna Ready Mix Concrete focuses on providing building material services across the commercial and residential construction segments. 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.
