SRM acquires St. Johns River Concrete based in Palatka, Florida. (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. SRM Concrete Careers and Employment | Indeed.com SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle 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. 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.". 18of the plants are situated in North Carolina and the remainder in Southwest Florida. 2022 SRM Concrete, All Rights Reserved. Moodys SF Japan K.K. Locations You can email the site owner to let them know you were blocked. Collen Bros (Quarries) Ltd, a family owned and operated civil engineering company located in County Armagh, Northern Ireland, recently took delivery of a Powerscreen Premiertrak 600E (PT600E) jaw crusher, which is the first of its kind to be delivered in the UK and Ireland. 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. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. The company also has been involved in many commercial jobs throughout its territories. 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. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle 5303 S Lake Houston Pkwy. With very little money and three trucks, we built a concrete plant in our own backyard at 4500 Hickory Grove Road in Murfreesboro, Tenn. SRM Concrete has pursued an active acquisition strategy, having successfully acquired and integrated over eightycompanies since 2005. Back in 1999, Mike and Melissa Hollingshead decided that they needed to build a ready-mix concrete plant in their own Middle Tennessee backyard. 51 Champion Rd. SRM provides quality ready mix concrete and construction materials to our customers throughout sixteen 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.". content Credit Application Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. (615) 355-1028. 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. close alert. Smyrna Ready Mix Concrete focuses on providing building material services across the commercial and residential construction segments. "Dad was in the ready-mix business working for himself finishing driveways and patios locally, but he kept getting poor service from a distributor due to the larger jobs they had going," said Ryan Hollingshead, Mike's son, and the current president of SRM Aggregates, a division of the larger company. How has SRM Concrete responded to COVID-19? SRM Concrete is pleased to announce the acquisition of USC-Atlantic, LLC, a subsidiary of U.S. Through hard work and the grace of God, Smyrna Ready Mix grew. Meritain Information Locations BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. Ryan Hollingshead (L), president of SRM Aggregates, and Mike Hollingshead, founder of SRM Concrete. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle 4.6. 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. 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. For more information about Power Equipment, visit www.powerequipco.com. Cementos Argos said that the divestment is part of its plan to . (MSFJ) is a wholly-owned credit rating agency subsidiary of MJKK. Moody's assigns B1 CFR to Smyrna; B1 to sr. secured credit facility Visit Website (513) 871 . Our website makes it easy to find the machines you need fast. 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. "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.". "I can assure you that my dad is heavily involved in everything he can get his hands on," Ryan said with a laugh. The headquarters for SRM Concrete are in 1000 Hollingshead Circle Smyrna, TN 37129. SRM acquires Cornerstone Ready Mix based in Augusta, Georgia. info@smyrnareadymix.com 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. 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. ", Ryan said that he knows it is a given that even brand-new equipment is going to have a service issue, "but it is how you handle those problems that matters, and even with Power's other offerings, they have always stepped up and made it right for us.". Company Store SRM Concrete locations. Smyrna Ready Mix, LLC. | Better Business Bureau Profile "We don't have the turmoil you sometimes see in family-owned businesses. Contact Us 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 LLC today completed its $830 million offering of eight-year senior secured notes via J.P. Morgan, BNP Paribas, BofA Securities, and Goldman Sachs. 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. 42% of survey respondents approved of the leadership response to COVID-19. This document is intended to be provided only to wholesale clients within the meaning of section 761G of the Corporations Act 2001. SRM acquires concrete company in Danville, Kentucky. Social Responsibilty SRM opens Harbor in Panama City Beach, Florida. 2022 SRM Concrete, All Rights Reserved. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. 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. Hollingshead Mixer Company LLC 200 Dekko Dr Avilla, IN 46710 IN Steve Howard (260) 897-4397: Steve . 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. 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. 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. BBB Business Profiles generally cover a three-year reporting period. . BBB Business Profiles are subject to change at any time. SRM Concrete | Quality Concrete, Unmatched Service "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. As a matter of policy, BBB does not endorse any product, service or business. "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. 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: Smyrna Ready Mix Concrete, LLC is located in Myrtle Beach, SC and is a supplier of Ready-Mixed Concrete. While Rokbak continues to build a global reputation for robust and reliable articulated haulers, just 50 mi. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. 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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. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. Contact Us Price talk for the seven-year covenant-lite term loan B is L+375-400, with a 0.75% Libor floor, offered at 99. 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 acquires Premier Concrete and Elite in Georgia. Smyrna Ready Mix Concrete LLC | Better Business Bureau Profile About Us Smyrna Ready Mix Concrete, LLC - Myrtle Beach, SC - Ready-Mixed Concrete A sister division, SRM Block, also makes quality concrete block (CMU), architectural block (ACMU) and retaining wall products (SRW). Smyrna Quarry - 88 5967 Hickory Grove Rd Murfreesboro, TN 37129 TN Travis Wagner . Smyrna Ready Mix - Overview, News & Competitors | ZoomInfo.com 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. This rating reflects BBB's opinion about the entire organization's interactions with its customers, including interactions with local locations. Emile El Nems VP - Senior Credit Officer Corporate Finance Group Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. Murfreesboro, TN 37129 Thu December 23, 2021 Eric Olson - CEG CONTRIBUTING EDITOR. Credit Application What was once a simple ready-mix plant is now a company capable of handling the multiple needs of countless numbers of building contractors. Your IP: 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. With very little money and three trucks, we built a concrete plant in our own backyard at 4500 Hickory Grove Road in Murfreesboro, Tenn. SRM Concrete products are designed to increase the strength, workability, and quality of the concrete our customers receive. Read more. The El Colombiano newspaper has reported that the deal includes a five-year cement supply agreement for all 23 plants. 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. 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. SRM acquires Southeast Ready Mix based in Savannah, Georgia. esgSubNav, Discover more about S&P Globals offerings, Global Credit and Risk Symposium: Unlocking Possibilities, JW Marriott Sao Paulo Av. Contact Information. Company Store 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. 4505 Anchorage Rd. We list equipment in all the major aggregate categories including conveyors, feeders, stackers, crushers, magnets, screening equipment, washing equipment, and more. 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. 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. SRM Concrete is a family owned and operated ready-mix company founded by Melissa and Mike Hollingshead in 1999. 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. Smyrna Ready Mix Concrete to acquire 23 ready-mix concrete plants from 2022 SRM Concrete, All Rights Reserved. Smyrna Ready Mix Concrete, LLC manufactures and supplies concrete products. SRM acquires Florida based Florida Roads. But that's not to say he isn't involved with SRM's operations. Careers, Place An Order SRM acquires North Alabama based Keenum Concrete. "It has been a privilege to work with Harper Industries over the past . SAFER Web - Company Snapshot SMYRNA READY MIX CONCRETE LLC - Transportation About Us Concrete, Inc., which is wholly owned by Vulcan Materials Company. ET on Oct. 29. This addition is one of SRMs largest acquisitions to date with over 600 new team members. The company serves bulk cement throughout the Southeast and Midwest United States. CMO 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. BBB Business Profiles may not be reproduced for sales or promotional purposes. "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. content Terms: latest-news-headlines Meritain Information Click to reveal For Buyers: View Search History and Save Searches; Save Supplier Listings and Add Notes; One of SRM's raw materials divisions, Hollingshead Cement, supplies bulk cement for numerous applications, including ready-mix concrete, block, concrete products, precast concrete and soil stabilization. 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. Proceeds will be used to fund certain acquisitions, to refinance existing debt and for general corporate purposes. At-a-glance. a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby discloses that most issuers of debt . MSFJ is not a Nationally Recognized Statistical Rating Organization (NRSRO). 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. 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. Featured Products Smyrna Ready Mix Concrete serves construction industry in the United States. 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 German company Bscher started in 1961 as a concrete plant and its business grew with, among others, a container service. (281) 837-5300. Murfreesboro, TN 37129 "[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. Eric Johnson, president and founder of Ceasars Equipment, grew up around the aggregate business and has always had a passion for aggregate machines. 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. Social Responsibilty SRM Concrete is the largest ready-mix concrete supplier in the United States with locations spanning 16 states. SRM Concrete | Quality Concrete, Unmatched Service SRM acquires Bigos Precast based in Fowlerville, Michigan. 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 Featured Products CEG. SRM Concrete is the largest privately-owned ready-mix concrete manufacturer in the country. ET on Oct. 29. SRM CONCRETE Revenue, Growth & Competitor Profile - IncFact.com info@smyrnareadymix.com Privacy Policy The level of drive, determination and faith that the Hollingshead family possesses is clearly behind SRM Concrete's success. Note: Revenues for privately held companies are statistical evaluations. 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. SRM Concrete is pleased to announce the acquisition of USC-Atlantic, LLC, a subsidiary of U.S. Investor Contact: Suzanne Osberg Vice President, Investor Relations (919) 783-4691 Suzanne.Osberg@martinmarietta.com MLM-G 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. 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.. Murfreesboro, TN 37129 Following this acquisition, SRM employs over 6,000 team members with locations that span 19 states. SRM acquires Sequatchie Concrete serving the East TN, North AL, and North GA markets. Meritain Information Concrete, Inc., which is wholly owned by Vulcan Materials Company. An unusual choice for most folks, certainly, but Mike did so only because he was often frustrated in getting the materials he needed to run his small concrete business. SRM Concrete's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. 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.