New Branch of Murphy Business & Financial Services to Open in Charlotte County
PORT CHARLOTTE, Fla. – (March 15, 2006) – Peter Lohage has opened a new branch of Murphy Business & Financial Services in Charlotte County, becoming a broker/owner for the largest business brokerage firm in Florida and one of the largest in the Southeast.
Lohage brings 20 years of experience in company turnarounds, acquisitions, marketing, financial management and controlling for companies which manufacture or distribute products ranging from automotive, furniture, construction to medical consumables and device products.
“Turnaround work is very challenging but gratifying because you have to solve the problems of a company and make it successful again within record time, and in the process, you create more jobs,” said Lohage. “But it comes at a price, 4,000 to 5,000 work hours per year.”
After completing his last turnaround, Lohage heard the song “Cats in the Cradle” on the radio and realized he didn’t want his relationship with his son to turn out that way. He decided to make a career change and re-focus on his family.
“Business brokerage was a natural fit,” Lohage explained. “Turning around a company is, besides improving the company’s internal processes, products and services, “selling the company” to customers, clients, CPA firms and financial institutions. In the process, you have to establish the status of the company and, especially, its future potential to be able to determine the actual value of the company. Equally important is the legal structuring of the company, of the financing and of the overall transaction with the goals of creating a sound deal and minimal tax obligations for the company owner. Exactly the same is required from a successful business broker.”
With the support of the Murphy organization and his connections to the regional community, Lohage plans to utilize his experience to increase services to business sellers and buyers in Southwest Florida.
Lohage holds an M.Sc. in metallurgy and material science and a Ph.D. from Technical University in Aachen, Germany, where he graduated summa cum laude.
Based in Clearwater, Fla., Murphy Business & Financial Services, Inc. (www.murphybusiness.com) is the largest business brokerage firm in the United States with 30 offices and 60 agents. Murphy sells approximately 350 businesses each year and has completed more than 2,500 transactions in Florida. Services include business sales, M&A, valuation, business consulting and franchise consulting. A charter member of the Business Brokers of Florida as well as a member of the Business Brokers Network and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage network in the world.
Contact: Peter Lohage
Murphy Business & Financial Services, Charlotte County
941-916-2098
plohage@murphybusiness.com
MEDIA CONTACT: Jeannie Magri
RFB Communications Group, Inc.
813/259-0345
jmagri@rfbcommunications.com
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