Economasters, LLC
How we got $11.7M
Based on its 28 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 35 years (since 1991)
- Family in the business (Dave Hildebrand, Director of Operations)
From public records and the company's website, not a statement that it's for sale.
What they do
Economasters, LLC in Tulsa, OK specializes in pressure vessel and structural steel manufacturing, fabricating economizers, heaters, HRSGs, tanks and structures to customer drawings.
From the company's website. Industry: Power Boiler and Heat Exchanger Manufacturing.
Estimated value over time
▲ 15% 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
▼ 7% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 28 | $11.9M |
| 2020 | Form 5500 | 21 | $8.9M |
| 2021 | Form 5500 | 18 | $7.6M |
| 2022 | Form 5500 | 19 | $8.1M |
| 2023 | Form 5500 | 27 | $11.4M |
| 2024 | Form 5500 | 25 | $10.6M |
| 2025 | Form 5500 | 26 | $11.0M |
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 |
|---|---|---|
| ECONOMASTERS, LLC this business | $19.0M | — |
| THE WHITE GROUP INC Tulsa · 1 employees | $922K | 2.2 mi |
| ACCURATE MACHINE & MAINTENANCE INC Tulsa · 5 employees | $2.7M | 2.6 mi |
| SANDS WELD AND FAB INC. Tulsa · 10 employees | $4.8M | 3.0 mi |
| BORN, INC Tulsa · 24 employees | $20.7M | 3.6 mi |
| OGI PROCESS EQUIPMENT INC. Sand Springs · 71 employees | $36.1M | 3.7 mi |
| AXH HOLDINGS Tulsa · 409 employees | $319.6M | 4.8 mi |
The full calculation
| Employees reported to the SBA | 28 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $17.6M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $15.7M |
| Estimate: the two combined (geometric mean) | $19.0M |
| EBITDA margin (industry, adjusted for size) | 11% |
| EBITDA = revenue × margin | $2.0M |
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 | $11.7M |
| Multiple for this size and industry | 5.8× |
| Value range | $6.2M – $16.1M |
| Revenue range | $12.5M – $21.7M |
| EBITDA range | $1.3M – $2.3M |
| Industry (NAICS) | Power Boiler and Heat Exchanger Manufacturing (332410) |
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
“Established in 1991, Economasters, LLC in Tulsa, OK specializes in pressure vessel and structural steel manufacturing.”
Leadership
- DHDave HildebrandDirector of Operations · Company website · source
- PHPaul HildebrandPrincipal · Company website · source
- ARAaron RexwinkleEngineering Manager · Company website · source
- AJAndrew JonesProduction Manager · Company website · source
- JDJuston DavisQuality Control Manager · Company website · source
- SGSteve GrantSenior Project Manager · Company website · source
- JPJoshua PhilbeckBusiness development manager · Company website · source
- JKJon KubertProduction Planner / Buyer · Company website · source
- SFShawn FitzgeraldStructure Bay Lead · Company website · source
- DBDerek BennettHeavy Bay Lead · Company website · source
- GPGary PeekPiping and Header Lead · Company website · source
Advisors
- BankingSecurity 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
| Security Bank PPP 2020, PPP 2021 | All 617 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/5/2020 | first | $309K | 28 |
| 2/6/2021 | second | $295K | 22 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Economasters, LLC
Economasters, LLC is a power boiler and heat exchanger manufacturing company in Tulsa, Oklahoma, in business since 1991. It is owned by Mark Hildebrand (president). Its estimated annual revenue is about $19.0M, with roughly $2.0M of EBITDA. It has about 26 employees. Its estimated business value is $11.7M (likely range $6.2M–$16.1M).
Common questions
- Who owns Economasters, LLC?
- Economasters, LLC is owned by Mark Hildebrand (president), according to public sources such as the company's website or filings.
- How much revenue does Economasters, LLC make?
- SeeBITDA estimates Economasters, LLC's annual revenue at about $19.0M (likely between $12.5M and $21.7M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Economasters, LLC worth?
- About $11.7M, roughly 5.8× its estimated EBITDA of $2.0M, typical for a power boiler and heat exchanger manufacturing company its size. Likely range: $6.2M–$16.1M.
- How many employees does Economasters, LLC have?
- About 26, from its 2025 retirement-plan filing.
- When was Economasters, LLC founded?
- Economasters, LLC has been in business since 1991.