Bluestem Integrated, LLC
How we got $2.0M
Based on its 38 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
Bluestem Integrated is a Tulsa, OK provider of integrated, full service on-demand and print solutions, including printed products, print asset management technology, and creative consultation.
From the company's website. Industry: Commercial Printing (except Screen and Books).
Customers & suppliers
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- HIDEAWAY- 2 INC · Tulsa, 9 mi · $57.4M
- REW III LLC · Tulsa, 2 mi · $49.0M
- SJK, LLC · Broken Arrow, 4 mi · $33.5M
- MAZZIO'S LLC · Tulsa, 3 mi · $33.5M
- WICHITA SDI, LLC · Prague, 63 mi · $32.5M
- DOCS FOOD STORES, INC. · Bixby, 10 mi · $76.4M
- SOUTH LEWIS SH OPCO, LLC · Tulsa, 7 mi · $54.9M
- Nonni's Food Co. · Tulsa, 8 mi · $44.6M
- WAREHOUSE MARKET, INC. · Tulsa, 8 mi · $41.1M
- MAVERIC MINI MARTS INC · Cushing, 53 mi · $22.5M
Estimated value over time
▼ 7% 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
▼ 8% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 38 | $6.8M |
| 2020 | Form 5500 | 34 | $6.1M |
| 2021 | Form 5500 | 35 | $6.3M |
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 |
|---|---|---|
| BLUESTEM INTEGRATED, LLC this business | $5.7M | — |
| ADAM STEWART Tulsa · 1 employees | $110K | 0.0 mi |
| PROFESSIONAL IMAGE INC Tulsa · 65 employees | $11.7M | 0.5 mi |
| GRAPHIC RESOURCES & REPRODUCT Broken Arrow · 9 employees | $938K | 0.8 mi |
| LIBERTY PRESS, INC. Tulsa · 5 employees | $612K | 1.6 mi |
| INKED APPAREL LLC Tulsa · 5 employees | $525K | 1.7 mi |
| DIVERSIFIED PRINTING, INC. Tulsa · 2 employees | $270K | 1.8 mi |
The full calculation
| Employees reported to the SBA | 38 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $5.4M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $6.0M |
| Estimate: the two combined (geometric mean) | $5.7M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $533K |
Brought up to date: prices are 10% higher than in the benchmark's year and Oklahoma employment in this industry has fallen 25% since 2020, both included above.
| Estimated value = EBITDA × typical sale multiple | $2.0M |
| Multiple for this size and industry | 3.8× |
| Value range | $1.2M – $3.2M |
| Revenue range | $4.3M – $7.4M |
| EBITDA range | $400K – $693K |
| Industry (NAICS) | Commercial Printing (except Screen and Books) (323111) |
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
Leadership
- BHBlake HendricksonChief Operations & Innovations Officer - Tulsa Plant · Company website · source
- DBDoug BillupsChief Operating Officer - Little Rock Plant · Company website · source
- KCKevin ConradProduction Manager - Tulsa Plant · Company website · source
- MLMike LittleProduction Manager - Little Rock Plant · Company website · source
- HSHarold SalisurySigned for the company · 2021 retirement-plan filing (Form 5500)
Advisors
- BankingFirst Oklahoma 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
| First Oklahoma Bank PPP 2020, PPP 2021 | All 695 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/4/2020 | first | $387K | 38 |
| 2/13/2021 | second | $425K | 38 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Bluestem Integrated, LLC
Bluestem Integrated, LLC is a commercial printing (except screen and books) company in Tulsa, Oklahoma, in business since 2007. It is owned by Hal Salisbury (President/Owner). Its estimated annual revenue is about $5.7M, with roughly $533K of EBITDA. It has about 35 employees. Its estimated business value is $2.0M (likely range $1.2M–$3.2M).
Common questions
- Who owns Bluestem Integrated, LLC?
- Bluestem Integrated, LLC is owned by Hal Salisbury (President/Owner), according to public sources such as the company's website or filings.
- How much revenue does Bluestem Integrated, LLC make?
- SeeBITDA estimates Bluestem Integrated, LLC's annual revenue at about $5.7M (likely between $4.3M and $7.4M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Bluestem Integrated, LLC worth?
- About $2.0M, roughly 3.8× its estimated EBITDA of $533K, typical for a commercial printing (except screen and books) company its size. Likely range: $1.2M–$3.2M.
- How many employees does Bluestem Integrated, LLC have?
- About 35, from its 2021 retirement-plan filing.
- When was Bluestem Integrated, LLC founded?
- Bluestem Integrated, LLC has been in business since 2007.