Covington Aircraft Engines, Inc.
How we got $56.5M
Based on its 113 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 54 years (since 1972)
- 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
Covington Aircraft Engines, based in Okmulgee, Oklahoma, provides maintenance, repair, overhaul, rental and field service for Pratt & Whitney PT6A turbine and R-985 and R-1340 radial aircraft engines.
From the company's website. Industry: Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance.
Customers & suppliers
Customers
- Departmental Offices · federal contracts $60K
Suppliers & brands
- Pratt & Whitney · brand it sells or installs
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- DRUMMOND CATTLE LLC · Tulsa, 33 mi · $129.5M
- BERRY & BERRY ACQUISITION · Tahlequah, 58 mi · $93.3M
- LIVESAY ORCHARDS · Porter, 26 mi · $35.7M
- GREEN ACRE SOD FARMS, INC · Bixby, 22 mi · $31.0M
- SANDER'S NURSERY & DISBRIBUTION · Broken Arrow, 22 mi · $18.3M
Estimated value over time
▲ 34% 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 |
|---|---|---|
| COVINGTON AIRCRAFT ENGINES, INC. this business | $65.2M | — |
| FOSTER'S PROPELLER SERVICE INC Boynton · 5 employees | $1.6M | 13.7 mi |
| ADVENT AIRCRAFT SYSTEMS, INC Tulsa · 3 employees | $2.7M | 25.4 mi |
| SOUTHWEST AVIATION SPECIALTIES, LLC Tulsa · 21 employees | $7.2M | 25.5 mi |
| RAJON, LLC Bristow · 73 employees | $37.4M | 27.4 mi |
| WERCO MANUFACTURING, INC. Broken Arrow · 23 employees | $8.1M | 27.6 mi |
| ICES CORPORATION Broken Arrow · 5 employees | $2.3M | 27.9 mi |
The full calculation
| Employees reported to the SBA | 113 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $58.8M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $55.5M |
| Estimate: the two combined (geometric mean) | $65.2M |
| EBITDA margin (industry, adjusted for size) | 10% |
| EBITDA = revenue × margin | $6.2M |
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 | $56.5M |
| Multiple for this size and industry | 9.1× |
| Value range | $29.7M – $77.3M |
| Revenue range | $42.9M – $74.3M |
| EBITDA range | $4.1M – $7.1M |
| Industry (NAICS) | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance (811310) |
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
History & advisors
Advisors
- BankingSolutions North 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
| Solutions North Bank PPP 2020 | All 13 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/10/2020 | first | $1.7M | 113 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Covington Aircraft Engines, Inc.
Covington Aircraft Engines, Inc. is a family-owned commercial and industrial machinery and equipment (except automotive and electronic) repair and maintenance company in Okmulgee, Oklahoma, in business since 1972. It is owned by Betty Abbott. Its estimated annual revenue is about $65.2M, with roughly $6.2M of EBITDA. It has about 113 employees. Its estimated business value is $56.5M (likely range $29.7M–$77.3M).
Common questions
- Who owns Covington Aircraft Engines, Inc.?
- Covington Aircraft Engines, Inc. is owned by Betty Abbott, according to public sources such as the company's website or filings.
- How much revenue does Covington Aircraft Engines, Inc. make?
- SeeBITDA estimates Covington Aircraft Engines, Inc.'s annual revenue at about $65.2M (likely between $42.9M and $74.3M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Covington Aircraft Engines, Inc. worth?
- About $56.5M, roughly 9.1× its estimated EBITDA of $6.2M, typical for a commercial and industrial machinery and equipment (except automotive and electronic) repair and maintenance company its size. Likely range: $29.7M–$77.3M.
- How many employees does Covington Aircraft Engines, Inc. have?
- About 113, as reported on its PPP loan.
- When was Covington Aircraft Engines, Inc. founded?
- Covington Aircraft Engines, Inc. has been in business since 1972.
- Is Covington Aircraft Engines, Inc. for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 54 years (since 1972); no family successor named on its website.