Applied Equipment Sales
How we got $725K
Based on its 2 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Unlikely to sell soon
- In business 19 years (since 2007)
From public records and the company's website, not a statement that it's for sale.
What they do
Applied Equipment Sales, Inc. sells commercial and industrial HVAC products and provides design assistance and engineering support for projects, from original designs to complete renovations.
From the company's website. Industry: Warm Air Heating and Air-Conditioning Equipment and Supplies Merchant Wholesalers.
Estimated value over time
▲ 89% 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.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| APPLIED EQUIPMENT SALES this business | $3.0M | — |
| ARCHITECTURAL STONE INTERNATIONAL LLC Tulsa · 2 employees | $2.3M | 1.6 mi |
| MAGIC REFRIGERATION CO Tulsa · 8 employees | $6.5M | 2.1 mi |
| TEMPLE ENTERPRISES OF TULSA INC. Tulsa · 19 employees | $19.8M | 2.2 mi |
| PANNELL ASSOCIATES SALES COMPANY Tulsa · 8 employees | $8.7M | 2.2 mi |
| HILTI CARIBE LLC Tulsa | $6.8M | 3.0 mi |
| HEATWAVE SUPPLY, INC. Tulsa · 46 employees | $61.2M | 3.9 mi |
The full calculation
| Employees reported to the SBA | 2 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $2.4M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $2.9M |
| Estimate: the two combined (geometric mean) | $3.0M |
| EBITDA margin (industry, adjusted for size) | 8% |
| EBITDA = revenue × margin | $250K |
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 | $725K |
| Multiple for this size and industry | 2.9× |
| Value range | $382K – $992K |
| Revenue range | $2.0M – $3.4M |
| EBITDA range | $164K – $285K |
| Industry (NAICS) | Warm Air Heating and Air-Conditioning Equipment and Supplies Merchant Wholesalers (423730) |
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
“With a family history dating back to 1952 in the plumbing and heating and air industry in Tulsa, Kelly Coday, founder and president of AES Inc., has 30 years of personal experience in HVAC.”
Advisors
- BankingMabrey 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
| Mabrey Bank PPP 2020, PPP 2021 | All 851 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/29/2020 | first | $26K | 2 |
| 1/21/2021 | second | $26K | 2 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Applied Equipment Sales
Applied Equipment Sales is a warm air heating and air-conditioning equipment and supplies merchant wholesalers company in Tulsa, Oklahoma, in business since 2007. It is owned by Kelly Coday (founder and president). Its estimated annual revenue is about $3.0M, with roughly $250K of EBITDA. It has about 2 employees. Its estimated business value is $725K (likely range $382K–$992K).
Common questions
- Who owns Applied Equipment Sales?
- Applied Equipment Sales is owned by Kelly Coday (founder and president), according to public sources such as the company's website or filings.
- How much revenue does Applied Equipment Sales make?
- SeeBITDA estimates Applied Equipment Sales's annual revenue at about $3.0M (likely between $2.0M and $3.4M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Applied Equipment Sales worth?
- About $725K, roughly 2.9× its estimated EBITDA of $250K, typical for a warm air heating and air-conditioning equipment and supplies merchant wholesalers company its size. Likely range: $382K–$992K.
- How many employees does Applied Equipment Sales have?
- About 2, as reported on its PPP loan.
- When was Applied Equipment Sales founded?
- Applied Equipment Sales has been in business since 2007.