Murphy Business Sales Research
Advisory Approach
Murphy Business Sales operates as a North American business brokerage and M&A advisory franchise network, founded in 1994 by Roger J. Murphy. The firm operates under a franchise model with 125+ offices across 38 states and Canada, enabling local market expertise while providing national reach. Their thesis centers on bringing institutional-quality transaction processes to lower middle market businesses, typically those with EBITDA exceeding $1 million and revenue between $1 million and $25 million.
The firm's approach combines personalized local service with the resources of a large network. Rather than running broad auction processes, Murphy Business emphasizes targeted buyer outreach to maintain confidentiality and prevent over-shopping of deals. This approach is particularly valued by family-owned and founder-led businesses where discretion is paramount.
Sector Focus
Murphy Business Sales maintains broad industry exposure across the lower middle market, with particular depth in several sectors. Their M&A advisory group focuses on companies with EBITDA over $1 million, while their broader business brokerage practice handles transactions down to the main street level.
Construction & Trade Services: The firm has completed numerous transactions across HVAC, electrical, plumbing, excavation, general contracting, and restoration services. Their industry transactions page lists dozens of completed deals in these sectors.
Manufacturing & Distribution: Experience with metal products, machine shops, building supplies, electrical distributors, and wholesale distribution companies. The Busmax transaction (vehicle rental and leasing) demonstrates their capability in transportation-adjacent manufacturing.
Healthcare Services: Transaction history includes assisted living facilities, medical equipment sales, dental practices, home healthcare, and medical billing services. The TELCOM deal (telecommunications infrastructure serving school districts) shows their capability in infrastructure-related healthcare-adjacent sectors.
Business Services: Completed deals in employment screening, janitorial services, executive search, and other B2B service providers.
Retail & Consumer: Experience with restaurants, auto repair shops, retail stores, and other consumer-facing businesses.
Deal Track Record
Murphy Business reports having completed over $4.3 billion in transactions across their network. Recent publicly-disclosed transactions include:
-
Busmax Recapitalization (2024): Majority recapitalization of Automax Rentacar Inc. and Busmax Leasing, LLC to Seneca Partners (Detroit-area independent sponsor) and 8 Aces, LLC (investment vehicle of industry expert Scott Dols). The Georgia-based companies provide passenger buses, vans, and cars for short- and long-term rental. Advisors: Anthony Samples and Sunil Shenoy. Deal featured seller financing with the Salmon family retaining equity and remaining in management.
-
TELCOM Inc. Sale (2024): Sale of Columbia, SC-based telecommunications cabling and installation company founded in 1982. Financials: $4.39M revenue (2023), $1.14M adjusted EBITDA. Customer base: 80% public-sector institutions (school districts). Advisors: Jesse Stone and Tully Ryan. Deal highlights strong infrastructure demand and government contracting relationships.
-
JT Jones Propane & Fireplace Acquisition (2024): Sale of Powells Point, NC-based propane distribution and service company founded in 1999. Served 7,000+ residential and commercial customers with average revenue of $2.8M over past three years. Advisor: Tully Ryan. Deal involved complex estate administration with multiple heirs, lenders, and legal parties.
The firm's completed transactions page lists representative deals across air conditioning & heating, crane companies, electrical services, excavation, assisted living, daycare centers, dental equipment, medical billing, auto repair, car wash, printing, pool service, restaurants, and dozens of other categories.
Process & Fee Structure
Murphy Business follows a structured sell-side process:
- Valuation: Business valuation to establish fair market pricing
- Marketing Plan: Custom marketing strategy including targeted marketing, direct mail, and trade advertising
- Offering Portfolio: Creation of detailed offering document for qualified buyers (more comprehensive than typical one-sheet flyers)
- Buyer Qualification: Screening and qualifying potential buyers
- Negotiation: Deal negotiation and term structuring
- Closing: Transaction closing and financing coordination
The firm maintains affiliations with national and international business brokerage associations and M&A networks, providing access to a broader buyer pool than local competitors. All dealings require signed confidentiality agreements before sensitive information disclosure.
Typical engagement timeline averages 181 days according to Tully Ryan's track record (Triangle & Eastern NC office), with a 97.3% closing price to list price ratio excluding earn-outs.
Specific fee information is not publicly disclosed on their website, which is typical for the industry.
Buyer Network
Murphy Business maintains relationships with:
-
Private Equity Groups: The firm's M&A advisory division explicitly maintains contact with "hundreds of private equity groups" who have raised capital for investing in privately-held businesses. The Busmax deal to Seneca Partners demonstrates PE transaction capability.
-
Corporate Buyers: The firm identifies and approaches strategic corporate buyers through confidential inquiries, emphasizing their ability to discover "untouched diamond" opportunities for jaded strategic buyers.
-
High Net Worth Individuals: Access to wealthy individuals who band together in investment groups similar to organized private equity.
-
Family Offices: evident from the 8 Aces vehicle in the Busmax deal (Scott Dols' investment vehicle)
The firm reports maintaining contact with 2,000+ active buyers across their network through their franchise system and industry affiliations.
Competitive Positioning
Murphy Business differentiates through:
-
Franchise Network Model: 125+ offices providing local market expertise with national reach—"local relationships, national resources"
-
Confidentiality-First Approach: Deliberately avoids broad auction processes that could over-shop deals or compromise seller anonymity
-
Dual-Segment Capability: Handles both lower middle market M&A (EBITDA >$1M) and main street business brokerage ($1M-$25M revenue)
-
Comprehensive Service Stack: Business brokerage, M&A advisory, business valuation, machinery & equipment appraisal, franchise resale, business consulting
-
Professional Credentials: Team holds certifications including Certified Business Intermediary (CBI), Board Certified Intermediary, Certified M&A Professional (CM&AA), Certified Merger & Acquisition Advisor (CMAA), CEPA (Certified Exit Planning Advisor)
-
Industry Affiliations: International Business Brokers Association (IBBA), Institute of Business Appraisers, M&A Source
Not a Fit If
Based on their positioning and stated criteria:
- Businesses below $1M EBITDA for their M&A advisory division (main street brokerage handles smaller deals)
- Sellers seeking broad auction processes (they prefer targeted buyer outreach)
- Public companies or upper middle market transactions above $50M TEV
- Sellers wanting minimal involvement (their process requires active seller participation)
- Pure asset sales without going-concern operations
Team
Corporate Leadership (Clearwater, FL):
- Veronica Ellinger, Chief Executive Officer – Leads Murphy Business & Financial Services LLC, quoted in Busmax transaction announcement
- Thomas J. Coba, CEO – Mentioned in company history as continuing leadership under founder Roger Murphy's vision
- Evelyn Correa, Chief Operating Officer
- John Graves, Chief Financial Officer
- Jeff Hood, Director of Franchise Development
- Danielle Schwartz, Director of Franchise Services / Business Coach / Business Broker
- Susan Bishop, Director of Marketing & Branding
Regional M&A Advisors:
- Anthony Samples, M&A Advisor – Co-advisor on Busmax recapitalization
- Sunil Shenoy, M&A Advisor – Co-advisor on Busmax recapitalization
- Jesse Stone, Senior M&A Advisor – Co-advisor on TELCOM Inc. sale
- Tully Ryan, Senior M&A Advisor – Lead advisor on JT Jones Propane acquisition, co-advisor on TELCOM sale. Certified M&A Advisor. Operating in Triangle & Eastern NC (Edenton, Wilmington, Raleigh offices). Track record: 97.3% closing ratio, 181-day average timeline.
Founder:
- Roger J. Murphy, Founder – Established Murphy Business in 1994, recognized as a pioneer of the business brokerage industry
The franchise model means each local office has independent owner-operators with their own teams. The corporate office provides training, brand, systems, and support.
Geographic Coverage
Headquartered in Clearwater, Florida (407 N. Belcher Road). Murphy Business operates 125+ offices across 38 states plus Canadian provinces. Key regional presence includes:
- Southeast: Florida (HQ), Georgia, North Carolina (Triangle & Eastern), South Carolina, Virginia
- Northeast: New Jersey, New York, Massachusetts, Connecticut, Pennsylvania
- Midwest: Minnesota, Illinois, Michigan, Ohio, Indiana
- West: California, Colorado, Washington, Oregon, Arizona
- Texas: Multiple offices
- Canada: Ontario and other provinces
The franchise model enables hyper-local expertise while maintaining consistent standards and processes across the network.