Air Conditioning Service Inc.
How we got $2.7M
Based on its 33 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Likely to sell
- In business 38 years (since 1988)
- Founder still runs it after 38 years
- No family successor named on its website
From public records and the company's website, not a statement that it's for sale.
What they do
Air Conditioning Service, Inc. provides residential and commercial heating and air conditioning services, including servicing, repair, installation and replacement, in the greater Oklahoma City area.
From the company's website. Industry: Plumbing, heating & air.
Customers & suppliers
Customers
- Boeing Aerospace · named on its website
- O'Reillys Automotive · named on its website
- O.S.U. Tech. Okmulgee · named on its website
- Midas Muffler · named on its website
- Oklahoma City University · named on its website
- Municipal Employees Credit Union · named on its website
- First Community Bank · named on its website
- American National Bank · named on its website
- Pioneer Technology Center · named on its website
- OKC Public Schools Dist. 89 · named on its website
- Edmond Public Schools · named on its website
- Western Heights Public Schools · named on its website
- Tecumseh Public Schools · named on its website
- Mid –Del Public Schools · named on its website
- Little Axe Public School · named on its website
Suppliers & brands
- American Standard · brand it sells or installs
- Lennox · brand it sells or installs
- Carrier · brand it sells or installs
- Trane · brand it sells or installs
- York · brand it sells or installs
- Rheem-Ruud · brand it sells or installs
- Daiken · brand it sells or installs
- Climate- master · brand it sells or installs
- Honeywell · brand it sells or installs
- AAON · brand it sells or installs
Estimated value over time
▲ 36% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Employees over time
▼ 55% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 33 | $6.7M |
| 2020 | Form 5500 | 24 | $4.9M |
| 2021 | Form 5500 | 16 | $3.3M |
| 2022 | Form 5500 | 15 | $3.1M |
| 2023 | Form 5500 | 6 | $1.2M |
| 2024 | Form 5500 | 16 | $3.3M |
| 2025 | Form 5500 | 15 | $3.1M |
Participants are employees in the company's retirement plan at year end, from its Form 5500 filing with the Department of Labor. They usually run a little under total headcount (part-timers and new hires may not be eligible). Revenue and EBITDA apply this industry's revenue per employee and margin to each year's count.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| AIR CONDITIONING SERVICE INC. this business | $9.8M | — |
| AAA ELECTRICAL CONTRACTORS INC Oklahoma City · 17 employees | $5.4M | 0.3 mi |
| Campbell & Son Electric LLC Oklahoma City | $1.8M | 0.7 mi |
| JCM SPECIALTY SERVICES LLC Del City · 6 employees | $2.1M | 0.7 mi |
| SAKER MECHANICAL, INC Del City · 33 employees | $15.1M | 0.9 mi |
| ALEXANDER PLUMBING AND ELECTRIC Del City · 1 employees | $302K | 1.0 mi |
| BUSINESS TELEPHONE SYSTEMS INC Midwest City · 1 employees | $292K | 1.1 mi |
The full calculation
| Employees reported to the SBA | 33 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $9.9M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $7.5M |
| Estimate: the two combined (geometric mean) | $9.8M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $915K |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $2.7M |
| Multiple for this size and industry | 3× |
| Value range | $1.4M – $3.8M |
| Revenue range | $6.5M – $11.2M |
| EBITDA range | $602K – $1.0M |
| Industry (NAICS) | Plumbing, Heating, and Air-Conditioning Contractors (238220) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022, OK. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
“Air Conditioning Service, Inc. was founded in 1988 by President, Shell Kincheloe.”
Leadership
- RARichard AceboV.P. and co-owner · Company website · source
Advisors
- BankingArvest Bank, Chickasaw Community BankPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| Arvest Bank PPP 2020 | All 5,114 borrowers → |
| Chickasaw Community Bank PPP 2021 | All 317 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/9/2020 | first | $253K | 33 |
| 1/22/2021 | second | $268K | 33 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Air Conditioning Service Inc.
Air Conditioning Service Inc. is a plumbing, heating & air company in Oklahoma City, Oklahoma, in business since 1988. It is owned by Shell Kincheloe. Its estimated annual revenue is about $9.8M, with roughly $915K of EBITDA. It has about 15 employees. Its estimated business value is $2.7M (likely range $1.4M–$3.8M).
Common questions
- Who owns Air Conditioning Service Inc.?
- Air Conditioning Service Inc. is owned by Shell Kincheloe, according to public sources such as the company's website or filings.
- How much revenue does Air Conditioning Service Inc. make?
- SeeBITDA estimates Air Conditioning Service Inc.'s annual revenue at about $9.8M (likely between $6.5M and $11.2M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Air Conditioning Service Inc. worth?
- About $2.7M, roughly 3× its estimated EBITDA of $915K, typical for a plumbing, heating & air company its size. Likely range: $1.4M–$3.8M.
- How many employees does Air Conditioning Service Inc. have?
- About 15, from its 2025 retirement-plan filing.
- When was Air Conditioning Service Inc. founded?
- Air Conditioning Service Inc. has been in business since 1988.
- Is Air Conditioning Service Inc. for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 38 years (since 1988); founder still runs it after 38 years; no family successor named on its website.