Loeb Expands Operations in the Midwest and Opens an Office Outside of Detroit
Loeb recently expanded its operations within the Midwest when it opened its Detroit office earlier this month. The office will house a team focused on used machinery and equipment sales as well as business development for related services such as term loan financing, appraisals, and auction services.
The establishment of the Detroit office comes at a time of substantial growth for Loeb Term Solutions, the industrial lending arm of Loeb and the recent appointment of Eric Grozenski as business development officer for the tristate area: Michigan, Ohio, and Indiana.
“In the past 18 months, Loeb Term Solutions experienced significant growth in our lending portfolio and we are expanding our operations to better serve the metro-Detroit financial sector, stated Jim Newman, Loeb Term Solutions Managing Partner. “We now have offices in Illinois, Florida, South Carolina and now Michigan.”
The Detroit office will also be home to Loeb account manager, Andres (Andy) Barriga who will be focusing on machinery sales and acquisitions.
“With all of the business we do in Michigan and Ohio, it was a great opportunity to get someone local to continue our growth and with our customers,” stated Howard Newman, President of Loeb.
The Detroit office is located at 100 West Big Beaver Road, Troy, MI 48084.
For five generations since 1880, Loeb has been a trusted provider of reliable equipment and related services that help manufacturers and financial institutions leverage their industrial assets by managing the equipment lifecycle. Headquartered in Chicago with a 150,000 square foot facility, Loeb provides: equipment sales, purchases, rentals, leasing & liquidations, certified market appraisals from Loeb Appraisal, auction services & asset disposition from Loeb Winternitz Industrial Auctioneers, and equipment term loan financing from Loeb Term Solutions. Loeb and all of its divisions are experts in providing equipment solutions to the: food, pharmaceutical, cosmetics, chemical, metalworking, woodworking, plastics, and printing industries. For more information on Loeb or any of its business units, please visit: www.loebequipment.com.