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. "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. SRM acquires Southeast Ready Mix based in Savannah, Georgia. . Bloomberg Markets is focused on bringing you the most important global business and breaking markets news and information as it happens. Social Responsibilty The El Colombiano newspaper has reported that the deal includes a five-year cement supply agreement for all 23 plants. 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. SRM Concrete | Quality Concrete, Unmatched Service Although it was not an inexpensive proposition to do so, and with little money of their own, the couple scraped together enough to erect what is today known as Smyrna Plant 1, a larger and still fully operational facility at 4500 Hickory Grove Road in Murfreesboro. SRM Acquires Indiana based Spurlino Materials. 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About Us Murfreesboro, TN 37129 Our Team 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. (281) 837-5300. 2022 SRM Concrete, All Rights Reserved. The German company Bscher started in 1961 as a concrete plant and its business grew with, among others, a container service. Smyrna Ready Mix Concrete launches $315M TLB; commitments due Oct. 29, Essential IR Insights Newsletter - March 2023, Continuous Financial Health Management of Suppliers, A Cloud Migration Plan for Corporations featuring Snowflake, In Search of Resilience Part 1 - A Data-Driven Scoreboard. As a matter of policy, BBB does not endorse any product, service or business. content 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. Contact Us esgSubNav, Discover more about S&P Globals offerings, Global Credit and Risk Symposium: Unlocking Possibilities, JW Marriott Sao Paulo Av. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. 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. "My main goal is keeping everyone safe," Ryan said. info@smyrnareadymix.com Smyrna Ready Mix Concrete LLC | Better Business Bureau Profile SRM acquires Sagamore Ready Mix in the Indianapolis market. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. (615) 355-1028 Smyrna Ready Mix Concrete focuses on providing building material services across the commercial and residential construction segments. SRM acquires Kentucky based Grant County Ready Mix and Gallatin County Ready Mix. The level of drive, determination and faith that the Hollingshead family possesses is clearly behind SRM Concrete's success. 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. Company Store 2022 SRM Concrete, All Rights Reserved. SRM acquires Florida based Florida Roads. SRM Concrete | Quality Concrete, Unmatched Service 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. The headquarters for SRM Concrete are in 1000 Hollingshead Circle Smyrna, TN 37129. Locations SRM acquires Bigos Precast based in Fowlerville, Michigan. SRM acquires Florida based Superior Concrete, Xpress Materials, and A-Materials. Note: Revenues for privately held companies are statistical evaluations. "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.". "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. /marketintelligence/en/news-insights/latest-news-headlines/smyrna-ready-mix-prints-upsized-secured-notes-to-yield-6-terms-61038516 Credit Application , 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. 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. CEO, Jeff Hollingshead stated, We are excited to expand into this incredible market. MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. From manufacturers such as Cedarapids, Doppstadt, Extec, Kleemann, McCloskey, Metso, Nordberg, Pioneer, Powerscreen, Screen Machine, Superior, Terex, and more. 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. info@smyrnareadymix.com You can email the site owner to let them know you were blocked. With very little money and three trucks, we built a concrete plant in our own backyard at 4500 Hickory Grove Road in Murfreesboro, Tenn. Smyrna Ready Mix Concrete launches $315M TLB; commitments due Oct. 29 For a complete list of our locations and to learn more about SRM Concrete, please visit smyrnareadymix.com. 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.". 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. Price talk for the seven-year covenant-lite term loan B is L+375-400, with a 0.75% Libor floor, offered at 99. All complaints are handled by the BBB where the company is Headquartered or a central customer complaint processing location. SRM acquires Federal Materials Concrete based in Paducah, Kentucky. Visit Website (513) 871 . 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. Within six months of launching the company, other area concrete finishers began ordering. 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. Moody's assigns B1 CFR to Smyrna; B1 to sr. secured credit facility "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. Company Store 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. Proceeds will be used to fund certain acquisitions, refinance existing debt and for general corporate purposes. (615) 355-1028. SRM Concrete's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. Social Responsibilty SRM Concrete is a family owned and operated ready-mix company founded by Melissa and Mike Hollingshead in 1999. This documentary-style series follows investigative journalists as they uncover the truth. Our company continues to expand, but our mission to provide every customer with quality concrete and unmatched service remains the same. Our Team Smyrna Ready Mix prints upsized secured notes to yield 6%; terms Careers, Place An Order Cloudflare Ray ID: 7c09a60ae9f8f118 Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. "Keep in mind that we also have sand mines, granite mines and gravel pits. Proceeds will be used to fund certain acquisitions, to refinance existing debt and for general corporate purposes. "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. SRM acquires Bayou Materials in Jackson, Alabama. BBB Business Profiles are subject to change at any time. Read more. Headquartered in Smyrna, Tennessee, we serve customers in 19 states with more than 6,300 team members. For Buyers: View Search History and Save Searches; Save Supplier Listings and Add Notes; 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. For more information about Smyrna Ready Mix Concrete, visit www.smyrnareadymix.com. Meritain Information About Us 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. At-a-glance. Featured Products 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. Smyrna Ready Mix Concrete, LLC - Myrtle Beach, SC - Ready-Mixed Concrete 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, LLC - Yahoo Finance 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 But that's not to say he isn't involved with SRM's operations. AND/OR ITS AFFILIATES. 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. SRM acquires North Alabama based Keenum Concrete. This addition is one of SRMs largest acquisitions to date with over 600 new team members. 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." "I want to deal with people I trust and that goes a long way. 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. Smyrna Ready Mix Concrete LLC is in market today with a $315 million term loan B, according to sources.
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