Fellers, Inc
How we got $59.4M
Based on its 303 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 32 years (since 1994)
- Acquired by American Pacific Group (2021)
From public records and the company's website, not a statement that it's for sale.
What they do
Fellers, Inc. is a supplier of signs and graphics, automotive films, and equipment and tools, offering a shop-style catalog of wraps, print films, tapes, and related products.
From the company's website. Industry: Sign Manufacturing.
Ownership & transactions
- Acquired by American Pacific Group · Dec 2021American Pacific Group, a private equity firm, acquired Fellers, Inc., a Tulsa vehicle wrap supply company, on December 2, 2021.Source
Customers & suppliers
Suppliers & brands
- 3M · brand it sells or installs
- Avery Dennison · brand it sells or installs
- ORAFOL · brand it sells or installs
- Arlon · brand it sells or installs
- CheetahWrap · brand it sells or installs
- DigiCut · brand it sells or installs
- HEXIS · brand it sells or installs
- General Formulations · brand it sells or installs
- American Biltrite · brand it sells or installs
- ASLAN · brand it sells or installs
- Banner Ups · brand it sells or installs
- CLEAR FOCUS · brand it sells or installs
- Continental Grafix · brand it sells or installs
- Fusion Tools · brand it sells or installs
- Geek Wraps · brand it sells or installs
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
▼ 57% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 303 | $44.5M |
| 2020 | Form 5500 | 124 | $18.2M |
| 2021 | Form 5500 | 125 | $18.3M |
| 2022 | Form 5500 | 140 | $20.5M |
| 2023 | Form 5500 | 131 | $19.2M |
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
| Business | Est. revenue | Distance |
|---|---|---|
| FELLERS, INC this business | $88.1M | — |
| LEKTRON LED TECHNOLOGIES, LLC Tulsa · 45 employees | $12.6M | 0.4 mi |
| SPORTS SIGNS INC Tulsa · 3 employees | $640K | 0.6 mi |
| CLARK SEALS LLC Tulsa · 19 employees | $7.1M | 0.6 mi |
| ONYX IMAGING CORPORATION Tulsa · 13 employees | $3.5M | 1.0 mi |
| WINDOR SUPPLY & MFG., INC. Tulsa | $9.0M | 1.3 mi |
| BLANKENSHIP BROTHERS LLC Tulsa · 7 employees | $1.6M | 1.3 mi |
The full calculation
| Employees reported to the SBA | 303 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $80.1M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $74.6M |
| Estimate: the two combined (geometric mean) | $88.1M |
| EBITDA margin (industry, adjusted for size) | 10% |
| EBITDA = revenue × margin | $8.7M |
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 | $59.4M |
| Multiple for this size and industry | 6.8× |
| Value range | $31.3M – $81.3M |
| Revenue range | $58.0M – $100.5M |
| EBITDA range | $5.7M – $10.0M |
| Industry (NAICS) | Sign Manufacturing (339950) |
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
- BEBradley EisensteinSigned for the company · 2021 retirement-plan filing (Form 5500)
Advisors
- AccountingGrant Thornton, LLPAudits its 401(k) plan (2023 filing)
- BankingUMB Bank, National AssociationPPP / 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
| UMB Bank, National Association PPP 2020 | All 99 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 | $3.2M | 303 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Fellers, Inc
Fellers, Inc is a sign manufacturing company in Tulsa, Oklahoma, in business since 1994. It is owned by Philip LaFata (Chief Executive Officer). Its estimated annual revenue is about $88.1M, with roughly $8.7M of EBITDA. It has about 131 employees. Its estimated business value is $59.4M (likely range $31.3M–$81.3M).
Common questions
- Who owns Fellers, Inc?
- Fellers, Inc is owned by Philip LaFata (Chief Executive Officer), according to public sources such as the company's website or filings.
- How much revenue does Fellers, Inc make?
- SeeBITDA estimates Fellers, Inc's annual revenue at about $88.1M (likely between $58.0M and $100.5M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Fellers, Inc worth?
- About $59.4M, roughly 6.8× its estimated EBITDA of $8.7M, typical for a sign manufacturing company its size. Likely range: $31.3M–$81.3M.
- How many employees does Fellers, Inc have?
- About 131, from its 2023 retirement-plan filing.
- When was Fellers, Inc founded?
- Fellers, Inc has been in business since 1994.