Heatwave Supply, Inc.
- Roland RiceSigns company filings · Form 5500 (2025)
How we got $21.8M
Based on its 46 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Some signs of a sale
- In business 27 years (since 1999)
From public records and the company's website, not a statement that it's for sale.
Estimated value over time
▲ 46% 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
▼ 20% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 46 | $46.9M |
| 2020 | Form 5500 | 37 | $37.7M |
| 2021 | Form 5500 | 37 | $37.7M |
| 2022 | Form 5500 | 38 | $38.8M |
| 2023 | Form 5500 | 38 | $38.8M |
| 2024 | Form 5500 | 40 | $40.8M |
| 2025 | Form 5500 | 37 | $37.7M |
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 |
|---|---|---|
| HEATWAVE SUPPLY, INC. this business | $61.2M | — |
| GUSTO HOME SERVICES LLC Tulsa | $4.0M | 0.6 mi |
| ARCTIC SALES AND LEASING, INC Tulsa · 5 employees | $5.1M | 0.8 mi |
| ENVIRONMENTAL PRODUCT SUPPLY INC Tulsa · 2 employees | $2.8M | 1.6 mi |
| ARCHITECTURAL STONE INTERNATIONAL LLC Tulsa · 2 employees | $2.3M | 2.5 mi |
| CASTERS OF OKLAHOMA INC Tulsa · 13 employees | $9.9M | 3.3 mi |
| RULE FASTENERS INC Tulsa · 11 employees | $9.2M | 3.8 mi |
The full calculation
| Employees reported to the SBA | 46 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $50.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $57.0M |
| Estimate: the two combined (geometric mean) | $61.2M |
| EBITDA margin (industry, adjusted for size) | 7% |
| EBITDA = revenue × margin | $4.2M |
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 | $21.8M |
| Multiple for this size and industry | 5.2× |
| Value range | $11.5M – $29.8M |
| Revenue range | $40.3M – $69.8M |
| EBITDA range | $2.8M – $4.8M |
| Industry (NAICS) | Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers (423720) |
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
- BankingBancFirstPPP / 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
| BancFirst PPP 2020 | All 7,048 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 | $585K | 46 |
2 locations
| Heatwave Supply Inc. | Tulsa | This listing |
| 332 NE Katherine Ave | Bartlesville | View |
Revenue, profit and value are for the whole company.
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Heatwave Supply, Inc.
Heatwave Supply, Inc. is a plumbing and heating equipment and supplies (hydronics) merchant wholesalers company in Tulsa, Oklahoma, in business since 1999. Its estimated annual revenue is about $61.2M, with roughly $4.2M of EBITDA. It has about 37 employees. Its estimated business value is $21.8M (likely range $11.5M–$29.8M). It has 2 locations.
Common questions
- Who owns Heatwave Supply, Inc.?
- The owner of Heatwave Supply, Inc. isn't in public records we've found yet. If you own or run the business, you can add or correct its details on SeeBITDA.
- How much revenue does Heatwave Supply, Inc. make?
- SeeBITDA estimates Heatwave Supply, Inc.'s annual revenue at about $61.2M (likely between $40.3M and $69.8M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Heatwave Supply, Inc. worth?
- About $21.8M, roughly 5.2× its estimated EBITDA of $4.2M, typical for a plumbing and heating equipment and supplies (hydronics) merchant wholesalers company its size. Likely range: $11.5M–$29.8M.
- How many employees does Heatwave Supply, Inc. have?
- About 37, from its 2025 retirement-plan filing.
- When was Heatwave Supply, Inc. founded?
- Heatwave Supply, Inc. has been in business since 1999.