Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a Rule 144A/Regulation S offering by Smyrna Ready Mix Concrete, LLC (“SRM”) of $1,100 million aggregate principal amount of 8.875% Senior Secured Notes due 2031.
Simpson Thacher also represented JPMorgan Chase Bank, N.A., as administrative agent, and the lenders in connection with the repricing of SRM’s Term Loan B.
SRM is one of the largest privately held ready-mix concrete providers in the country. Founded in 1999, it is a family-owned and operated company providing ready-mix concrete, aggregates and concrete-related products and services, such as material hauling and concrete pumping.
The Simpson Thacher team for the transaction included John C. Ericson, Matt Hart, Sydney Mark, Jack Ligon and Mark Marzziotti (Capital Markets); Dan Kay, Dennis Durkin and Abdulyekinni Fasinro (Credit); Jonathan Pall (Collateral); Tim Gallagher (Real Estate); Jon Cantor (Tax); Pasco Struhs and Josh Goldman (Executive Compensation and Employee Benefits); Bobbie Burrows, Mark Natividad and Courtney Welshimer (Intellectual Property); and Jennie Getsin (Blue Sky).