JUPITER, Fla. (May 20, 2019) – Inlet Capital Group, LLC (“Inlet Capital”) is pleased to announce the sale of Coral Rock Quarry (“Coral Rock”) to Southern Rock Manufacturing, LLC (“SRM”). Inlet Capital served as strategic advisor to AC Magnum Coral, LLC (“AC Magnum”) during the transaction, which closed on May 16, 2019.
Located in Punta Gorda, Fla., Coral Rock is an approximate 1,700-acre property underlain by an estimated 25M tons of limestone reserves. Coral Rock has a long history as a regional supplier of limestone, sand and fill products to southwest Florida, but operations had been temporarily suspended. Coral Rock is expected to resume operations in the near future.
SRM is an affiliate of Smyrna Ready Mix, one of the largest privately held ready mix producers in the southeast, providing high-quality concrete to Florida, Georgia, Kentucky, Indiana, Ohio, Texas, and Tennessee. Headquartered in Nashville, Tenn., SRM maintains a network of nearly 100 operating facilities, providing ready mix concrete, material hauling, concrete pumping and other services to customers throughout its served markets.
Inlet Capital provides strategy consulting and transaction advisory services exclusively to the construction materials industry. Founded and managed by industry insiders, the firm offers in-depth insight, practical solutions and efficient execution to its clients throughout the United States.