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. 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 provides quality ready mix concrete and construction materials to our customers throughout sixteen states. SRM acquires Sagamore Ready Mix in the Indianapolis market. The deal was upsized from $515 million and pricing finalized at the wide end of guidance, according to market sources. 50.69421 \\ 3.17456 \\ 213.32.24.66 \\ Roubaix \\ Hauts-de-France. 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. CMO SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle For Buyers: View Search History and Save Searches; Save Supplier Listings and Add Notes; SRM Concrete is a family owned and operated ready-mix company founded by Melissa and Mike Hollingshead in 1999. Ryan Hollingshead (L), president of SRM Aggregates, and Mike Hollingshead, founder of SRM Concrete. info@smyrnareadymix.com 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. "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. 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 acquires concrete company in Danville, Kentucky. Featured Products 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. Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. 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. From manufacturers such as Cedarapids, Doppstadt, Extec, Kleemann, McCloskey, Metso, Nordberg, Pioneer, Powerscreen, Screen Machine, Superior, Terex, and more. SRM opens new plant in Panama City Beach. Visit Website. Concrete, Inc., which is wholly owned by Vulcan Materials Company. About Us SRM Acquires Indiana based Spurlino Materials. 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. Included in this acquisition are 28 ready-mix locations in New York, New Jersey, and Pennsylvania. SRM acquires Sequatchie Concrete serving the East TN, North AL, and North GA markets. Visit Website (936) 295-7672. . content 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). Contact Us 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 documentary-style series follows investigative journalists as they uncover the truth. Included in this acquisition are 28 ready-mix locations in New York, New Jersey, and Pennsylvania. 51 Champion Rd. 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. Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. SRM acquires Kentucky based All-Rite Ready Mix and Tucker Ready Mix. 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. "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 Concrete's presence, products, and services enable us to win in today's competitive marketplaces. 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.. All customer reviews are handled by the BBB where the company is Headquartered or a central customer review processing location. SRM acquires Cornerstone Ready Mix based in Augusta, Georgia. 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. Privacy Policy "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. Eric Johnson, president and founder of Ceasars Equipment, grew up around the aggregate business and has always had a passion for aggregate machines. 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. (615) 355-1028. For more information about Smyrna Ready Mix Concrete, visit www.smyrnareadymix.com. SRM Concrete's reach and presence is unmatched in the industry. Bloomberg Markets is focused on bringing you the most important global business and breaking markets news and information as it happens. Locations We just feel comfortable with them. Performance & security by Cloudflare. But that's not to say he isn't involved with SRM's operations. SRM Acquires Transit Mix based in Johnson City, TN. BBB reports on known marketplace practices. Moodys SF Japan K.K. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. Careers, Place An Order 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. SRM acquires Vulcan Materials in Richmond, Virginia. Our website makes it easy to find the machines you need fast. 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 SRM acquires Southeast Ready Mix based in Savannah, Georgia. Aggregate Equipment Guide is a project of Construction Equipment Guide, putting machines in front of buyers for over 60 years. This addition is one of SRMs largest acquisitions to date with over 600 new team members. SRM acquires Premier Concrete and Elite in Georgia. 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. This website is using a security service to protect itself from online attacks. Privacy Policy SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle Featured Products Careers, Place An Order Privacy Policy Visit Website (513) 871 . Careers, Place An Order 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. SRM acquires Anchor Ready Mix based in Cincinnati, Ohio. The J.P. Morgan-led deal launched with a lender call today, and commitments are due at 5 p.m. 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. (615) 355-1028 Huntsville, TX 77340. SRM Concrete | Quality Concrete, Unmatched Service SRM provides quality ready mix concrete and construction materials to our customers throughout sixteen states. Contact Information. After seeing 140,000 visitors and a positive mood in all participating industries, ConExpo-Con/AGG closed with an extremely positive result. Credit Application Within six months of launching the company, other area concrete finishers began ordering. "My main goal is keeping everyone safe," Ryan said. 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. 4505 Anchorage Rd. Murfreesboro, TN 37129 That indicates a yield to maturity of around 4.76%-5.20%. Note: Revenues for privately held companies are statistical evaluations. Company Store 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. Through both growth and acquisition, the company has amassed a heavy equipment fleet of more than 400 pieces. If you are interested in joining a team dynamic that separates from the rest, let's talk. a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby discloses that most issuers of debt . 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. , 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.

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