In fact, he added, "There is not one complaint against Power Equipment that I could ever make. 2022 SRM Concrete, All Rights Reserved. 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. Investor Contact: Suzanne Osberg Vice President, Investor Relations (919) 783-4691 Suzanne.Osberg@martinmarietta.com MLM-G 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. SRM acquires Florida based Griswold Concrete and KMR Concrete. It is classified as operating in the Nonmetallic Mineral Product Manufacturing industry. 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. Aggregate Equipment Guide is a project of Construction Equipment Guide, putting machines in front of buyers for over 60 years. Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. 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. 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. 5303 S Lake Houston Pkwy. Concrete, Inc., which is wholly owned by Vulcan Materials Company. If you are interested in joining a team dynamic that separates from the rest, let's talk. "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. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. Contact Us 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 Concrete focuses on providing building material services across the commercial and residential construction segments. For Buyers: View Search History and Save Searches; Save Supplier Listings and Add Notes; Murfreesboro, TN 37129 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. After seeing 140,000 visitors and a positive mood in all participating industries, ConExpo-Con/AGG closed with an extremely positive result. 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. . Credit Application 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." Smyrna Quarry - 88 5967 Hickory Grove Rd Murfreesboro, TN 37129 TN Travis Wagner . Eric Johnson, president and founder of Ceasars Equipment, grew up around the aggregate business and has always had a passion for aggregate machines. Visit Website (936) 295-7672. In addition, Moody's credit rating is supported by the company's solid EBITDA margins and commitment to maintain modest leverage and good liquidity. 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 Concrete's reach and presence is unmatched in the industry. A sister division, SRM Block, also makes quality concrete block (CMU), architectural block (ACMU) and retaining wall products (SRW). SRM acquires Sagamore Ready Mix in the Indianapolis market. 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 Store "That is what made him want to put up his own concrete plant.". SRM Concrete is the largest ready-mix concrete supplier in the United States with locations spanning 16 states. 18of the plants are situated in North Carolina and the remainder in Southwest Florida. "Keep in mind that we also have sand mines, granite mines and gravel pits. Credit Application The action you just performed triggered the security solution. For a complete list of our locations and to learn more about SRM Concrete, please visit smyrnareadymix.com. Concrete, Inc., which is wholly owned by Vulcan Materials Company. 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. CEO, Jeff Hollingshead stated, "We are excited to . 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. Social Responsibilty With very little money and three trucks, we built a concrete plant in our own backyard at 4500 Hickory Grove Road in Murfreesboro, Tenn. About Us Our Team Locations FIND A SUPPLIER: GET A QUOTE: INDUSTRYNET BLOG: ABOUT INDUSTRYNET: MARKETING SOLUTIONS : IndustryNet Account. 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. Contact Information. Looking for more information? SRM acquires Kentucky based Grant County Ready Mix and Gallatin County Ready Mix. Murfreesboro, TN 37129 The J.P. Morgan-led deal launched with a lender call today, and commitments are due at 5 p.m. 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. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Smyrna Ready Mix Concrete LLC is in market today with a $315 million term loan B, according to sources. Lora Smith Smyrna Ready Mix LLC is a provider of ready-mix concrete, aggregates, and other concrete-related products and services. Company Store 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 the largest privately-owned ready-mix concrete manufacturer in the country. 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. (615) 355-1028. "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. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle 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. Meritain Information Smyrna Ready Mix Concrete, LLC is located in Myrtle Beach, SC and is a supplier of Ready-Mixed Concrete. SRM Concrete locations. This documentary-style series follows investigative journalists as they uncover the truth. (281) 837-5300. 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. 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. Careers, Place An Order 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 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. This document is intended to be provided only to wholesale clients within the meaning of section 761G of the Corporations Act 2001. Contact Us BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. SRM Acquires Kentucky based Kentucky Concrete. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. SRM acquires Sequatchie Concrete assets in Middle TN. Meritain Information 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. 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. Cincinnati, OH 45226-2404. The headquarters for SRM Concrete are in 1000 Hollingshead Circle Smyrna, TN 37129. This rating reflects BBB's opinion about the entire organization's interactions with its customers, including interactions with local locations.

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