Midstate Traffic Control, Inc.
How we got $11.3M
Based on its 51 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 29 years (since 1997)
- Headcount down 20% since 2020 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
What they do
Midstate Traffic Control, Inc. is an Oklahoma City business that offers traffic signals, highway signs, highway lighting, barricades, striping, and guardrail, with sales, installation, maintenance, and rentals.
From the company's website. Industry: Highway, Street, and Bridge Construction.
Estimated value over time
▲ 20% 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
▼ 29% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 51 | $17.0M |
| 2020 | Form 5500 | 45 | $15.0M |
| 2021 | Form 5500 | 42 | $14.0M |
| 2022 | Form 5500 | 36 | $12.0M |
| 2023 | Form 5500 | 32 | $10.7M |
| 2024 | Form 5500 | 36 | $12.0M |
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 |
|---|---|---|
| MIDSTATE TRAFFIC CONTROL, INC. this business | $28.1M | — |
| BRIFEN USA, INC. Oklahoma City · 7 employees | $5.3M | 0.0 mi |
| BLASTRAC NA INC. Oklahoma City · 102 employees | $66.7M | 0.5 mi |
| TRAFFIC & LIGHTING SYSTEMS, LLC Oklahoma City · 132 employees | $83.6M | 0.5 mi |
| BLACK MESA TRUCKING LLC Oklahoma City · 17 employees | $10.2M | 5.1 mi |
| C-P INTEGRATED SERVICES, INC Oklahoma City · 21 employees | $15.4M | 5.1 mi |
| OLC, INC Oklahoma City · 115 employees | $62.3M | 5.1 mi |
The full calculation
| Employees reported to the SBA | 51 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $27.2M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $22.4M |
| Estimate: the two combined (geometric mean) | $28.1M |
| EBITDA margin (industry, adjusted for size) | 10% |
| EBITDA = revenue × margin | $2.8M |
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 | $11.3M |
| Multiple for this size and industry | 4.1× |
| Value range | $5.9M – $15.4M |
| Revenue range | $18.5M – $32.1M |
| EBITDA range | $1.8M – $3.1M |
| Industry (NAICS) | Highway, Street, and Bridge Construction (237310) |
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
Advisors
- BankingMidFirst 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
| MidFirst Bank PPP 2020 | All 2,403 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/29/2020 | first | $554K | 51 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Midstate Traffic Control, Inc.
Midstate Traffic Control, Inc. is a highway, street, and bridge construction company in Oklahoma City, Oklahoma, in business since 1997. It is owned by Steve E. Wells. Its estimated annual revenue is about $28.1M, with roughly $2.8M of EBITDA. It has about 36 employees. Its estimated business value is $11.3M (likely range $5.9M–$15.4M).
Common questions
- Who owns Midstate Traffic Control, Inc.?
- Midstate Traffic Control, Inc. is owned by Steve E. Wells, according to public sources such as the company's website or filings.
- How much revenue does Midstate Traffic Control, Inc. make?
- SeeBITDA estimates Midstate Traffic Control, Inc.'s annual revenue at about $28.1M (likely between $18.5M and $32.1M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Midstate Traffic Control, Inc. worth?
- About $11.3M, roughly 4.1× its estimated EBITDA of $2.8M, typical for a highway, street, and bridge construction company its size. Likely range: $5.9M–$15.4M.
- How many employees does Midstate Traffic Control, Inc. have?
- About 36, from its 2024 retirement-plan filing.
- When was Midstate Traffic Control, Inc. founded?
- Midstate Traffic Control, Inc. has been in business since 1997.