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Tennessee firm buys Augusta-area concrete plants

Damon Cline
dcline@augustachronicle.com
SRM Concrete founder and President Mike Hollingshead, center, is shown with sons Ryan, left, and Jeff in front of a cement truck in this company-provided image. [SPECIAL]

A Tennessee-based company on Friday announced it has acquired four Augusta-Aiken area concrete plants from the Colombian construction conglomerate Grupo Argos S.A.

The sale to family-owned SRM Concrete also included other Argos properties in Georgia, South Carolina, Arkansas and Virginia. Financial terms of the deal were not disclosed.

Colombian news media have reported Argos' divestment of the 28 U.S. concrete plants to SRM and other concrete companies will generate more than $95 million for the Medellín-based company.

SRM President Mike Hollingshead said in a statement that the Augusta-area plants have "played an important role in the growth of Augusta and the surrounding communities."

"After meeting with all the employees, I am enthusiastic about our potential in the Augusta market and can see that everyone will blend in well with our company’s vision on service," he said.

The former Argos USA and Argos Ready Mix concrete plants are located at 111 Laney Walker Blvd. in Augusta; 4220 Wheeler Road in Martinez; 134 Willow Run Road in Aiken, S.C.; and 50 Main St. in Jackson, S.C.

Nashville-based SRM Concrete operates in 12 states, supplying concrete to contractors, home builders and do-it-yourself homeowners.

SRM Concrete CEO Jeff Hollingshead, the son of founder Mike Hollingshead, said the company prides itself on customer service and its family culture.

"We are excited to welcome each of the employees from the Argos Augusta facility to the SRM family. The Augusta market is thriving, and we are excited to expand our footprint across this region," he said in a statement. "We have more than 20 plants in Georgia and this will strengthen our presence in our existing markets, while growing in new markets.“

Argos had owned the Augusta-area plants since 2011, when it acquired the Southeastern U.S. assets of French building materials company Lafarge S.A.

SRM Concrete was founded in 1999 as Smyrna Ready Mix Concrete by Mike and Melissa Hollingshead. The company, which now has more than 2,500 employees, markets itself as operating under Christian-based values and principles.

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