SeeBITDAOklahoma

Claims Management Resources

  • 726 W SHERIDAN AVE, Oklahoma City, OK
  • 2 locations
  • Since 1988
Estimated valueMedium confidence
$129.6M
$77.8Mlikely range$202.2M
About 9× its yearly profit, typical for a company this size in its industry.
Revenue
$74.2M
a year
Profit (EBITDA)
$14.4M
19% of revenue
Employees
160
reported in 2020
Jonathan D. Musgrove
President & CEO · source
Some signs of a sale

How we got $129.6M

Based on its 160 employees and its payroll, both reported for PPP in 2020 and brought up to date.

160 employees × $535K each$85.7M
PPP payroll ÷ payroll's usual share of revenue$64.2M
Revenue$74.2M
× 19% profit margin$14.4M
× 9 sale multiple = value$129.6M

· Own this business? Correct these figures

What we know

PPP loan, 2020
401(k) filing, 2023
No reported financials
Company website
Owner named
2 locations found

Signs of a sale Some signs of a sale

  • In business 38 years (since 1988)
  • 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

Claims Management Resources helps utility companies, Departments of Transportation, municipalities and other governmental entities recover costs from third-party property damage claims. It manages the recovery process from initial reporting through resolution.

Products & services
Property damage claim recovery
Markets served
UtilitiesDepartments of TransportationMunicipalitiesGovernmental entities

From the company's website. Industry: Insurance agencies.

Estimated value over time

▲ 63% since 2020
$0$74.5M$149.1M20202021202220232026

Today'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

▲ 33% since 2020
01252502020202120222023160212
401(k) / retirement-plan participantsEmployees reported for PPP
Show as table
YearSourceEmployeesEst. revenueEst. EBITDA
2020PPP loan160$51.4M$10.0M
2020Form 5500227$73.0M$14.2M
2021Form 5500197$63.3M$12.3M
2022Form 5500210$67.5M$13.1M
2023Form 5500212$68.2M$13.2M

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

BusinessEst. revenueEst. profitDistance
CLAIMS MANAGEMENT RESOURCES
this business
$74.2M$14.4M—
ACCOUNT MANAGEMENT RESOURCES, LLC
Oklahoma City · 19 employees
$8.8M$2.1M0.0 mi
Farmers Insurance - Todd Jackson
Oklahoma City
$493K$189K0.2 mi
KRUGER INVESTMENT COMPANY
Oklahoma City · 3 employees
$592K$194K0.3 mi
Johnston Legal Group Pc
Oklahoma City
$493K$189K0.4 mi
American Handwerk Inc
Oklahoma City
$493K$189K0.4 mi
Whitlow Insurance Solutions, Llc
Oklahoma City
$985K$323K0.4 mi

The full calculation

Employees reported to the SBA160
Revenue from headcount (employees × revenue per employee for companies this size)$85.7M
Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size)$64.2M
Estimate: the two combined (geometric mean)$74.2M
EBITDA margin (industry, adjusted for size)19%
EBITDA = revenue × margin$14.4M

Brought up to date: prices are 10% higher than in the benchmark's year and Oklahoma employment in this industry has grown 31% since 2020, both included above.

Estimated value = EBITDA × typical sale multiple$129.6M
Multiple for this size and industry9×
Value range$77.8M – $202.2M
Revenue range$55.6M – $96.4M
EBITDA range$10.8M – $18.7M
Industry (NAICS)Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

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

Founded 1988
“Claims Management Resources (CMR) began in 1988 in Oklahoma City, where our headquarters and 200 employees still call home.”

Leadership

  • JT
    J. Taylor Fudge
    Managing Partner · Company website · source
  • HS
    Helen S. Rambo, MBA, CPA
    Chief Financial Officer · Company website · source
  • JH
    Jill Hudson, ESQ., SPHR
    Human Resources Director · Company website · source
  • JB
    Jana B. Gridley
    Business Development Manager · Company website · source

Advisors

  • AccountingForvis Mazars LLPAudits its 401(k) plan (2023 filing)
  • BankingNBC OklahomaPPP / 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

NBC Oklahoma
PPP 2020
All 526 borrowers →

From PPP and SBA loan records, which name the bank but not the individual banker.

PPP loans

ApprovedDrawAmountForgivenJobsLender
4/15/2020first$1.6M$1.6M160NBC Oklahoma

2 locations

726 W SHERIDAN AVEOklahoma CityThis listing
615 N Classen BlvdOklahoma CityView

Revenue, profit and value are for the whole company.

Public records

LinkedIn company page
Size as the company lists it
Employees—

Matched to this business by name and address from public government data; a match can occasionally be wrong.

About Claims Management Resources

Claims Management Resources is an insurance agencies company in Oklahoma City, Oklahoma, in business since 1988. It is owned by Jonathan D. Musgrove (President & CEO). Its estimated annual revenue is about $74.2M, with roughly $14.4M of EBITDA. It has about 212 employees. Its estimated business value is $129.6M (likely range $77.8M–$202.2M). It has 2 locations.

Common questions

Who owns Claims Management Resources?
Claims Management Resources is owned by Jonathan D. Musgrove (President & CEO), according to public sources such as the company's website or filings.
How much revenue does Claims Management Resources make?
SeeBITDA estimates Claims Management Resources's annual revenue at about $74.2M (likely between $55.6M and $96.4M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
What is Claims Management Resources worth?
About $129.6M, roughly 9× its estimated EBITDA of $14.4M, typical for a insurance agencies company its size. Likely range: $77.8M–$202.2M.
How many employees does Claims Management Resources have?
About 212, from its 2023 retirement-plan filing.
When was Claims Management Resources founded?
Claims Management Resources has been in business since 1988.