Midwest Cooling Towers
How we got $28.4M
Based on its 177 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)
From public records and the company's website, not a statement that it's for sale.
What they do
Midwest Cooling Towers is a manufacturer, supplier, and builder of cooling towers, offering engineering, design, manufacturing of components, on-site construction, and maintenance and repair for industrial cooling tower users. It describes itself as a global partner for cooling tower components, supplying customers in the U.S. and internationally.
From the company's website. Industry: Fencing, siding & exterior.
Customers & suppliers
Customers
- LSB Industries · named on its website
- ONEOK · named on its website
- Red Trail Energy · named on its website
Suppliers & brands
- Hudson Products · brand it sells or installs
- Brentwood · brand it sells or installs
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- GULFPORT ENERGY CORPORATION · Oklahoma City, 47 mi · $1.42B
- MACH RESOURCES LLC · Oklahoma City, 47 mi · $1.18B
- CROWN ENERGY COMPANY · Oklahoma City, 41 mi · $711.4M
- T/J INSPECTION, INC. · Del City, 41 mi · $651.7M
- CIRCLE 9 RESOURCES LLC · Oklahoma City, 40 mi · $557.6M
- LSB INDUSTRIES, INC · Oklahoma City, 42 mi · $615.2M
- DELAWARE RESOURCE GROUP OF OKLAHOMA, LLC · Oklahoma City, 47 mi · $339.5M
- SOUTHWESTERN WIRE INC · Norman, 28 mi · $312.3M
- AIRX CLIMATE SOLUTIONS, INC. · Yukon, 37 mi · $245.1M
- MERCER VALVE CO., INC. · Oklahoma City, 36 mi · $231.9M
Estimated value over time
▲ 23% 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
▼ 38% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 177 | $45.2M |
| 2020 | Form 5500 | 113 | $28.9M |
| 2021 | Form 5500 | 89 | $22.8M |
| 2022 | Form 5500 | 97 | $24.8M |
| 2023 | Form 5500 | 66 | $16.9M |
| 2024 | Form 5500 | 110 | $28.1M |
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 |
|---|---|---|
| MIDWEST COOLING TOWERS this business | $76.2M | — |
| MARTI CAUTHEN Chickasha · 2 employees | $804K | 2.7 mi |
| ELEGANT INSTALLATIONS LLC Chickasha · 1 employees | $377K | 3.1 mi |
| E & E CONSTRUCTION Chickasha · 2 employees | $818K | 3.5 mi |
| SEABREEZE POOLS INC Chickasha · 4 employees | $2.3M | 4.3 mi |
| GOODALL CONSTRUCTIONS Chickasha · 3 employees | $1.2M | 4.3 mi |
| ABSOLUTE PLUMBING LLC Cement · 3 employees | $1.1M | 7.7 mi |
The full calculation
| Employees reported to the SBA | 177 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $73.8M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $60.5M |
| Estimate: the two combined (geometric mean) | $76.2M |
| EBITDA margin (industry, adjusted for size) | 8% |
| EBITDA = revenue × margin | $5.8M |
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 | $28.4M |
| Multiple for this size and industry | 4.9× |
| Value range | $14.9M – $38.8M |
| Revenue range | $50.1M – $86.9M |
| EBITDA range | $3.8M – $6.6M |
| Industry (NAICS) | All Other Specialty Trade Contractors (238990) |
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
- AccountingKemper CPA Group LLPAudits its 401(k) plan (2024 filing)
- BankingField & Main 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
| Field & Main Bank PPP 2020, PPP 2021 | View → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/7/2020 | first | $1.7M | 177 |
| 1/17/2021 | second | $1.7M | 177 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Midwest Cooling Towers
Midwest Cooling Towers is a fencing, siding & exterior company in Chickasha, Oklahoma, in business since 1997. It is owned by Ann Pate (President). Its estimated annual revenue is about $76.2M, with roughly $5.8M of EBITDA. It has about 110 employees. Its estimated business value is $28.4M (likely range $14.9M–$38.8M).
Common questions
- Who owns Midwest Cooling Towers?
- Midwest Cooling Towers is owned by Ann Pate (President), according to public sources such as the company's website or filings.
- How much revenue does Midwest Cooling Towers make?
- SeeBITDA estimates Midwest Cooling Towers's annual revenue at about $76.2M (likely between $50.1M and $86.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Midwest Cooling Towers worth?
- About $28.4M, roughly 4.9× its estimated EBITDA of $5.8M, typical for a fencing, siding & exterior company its size. Likely range: $14.9M–$38.8M.
- How many employees does Midwest Cooling Towers have?
- About 110, from its 2024 retirement-plan filing.
- When was Midwest Cooling Towers founded?
- Midwest Cooling Towers has been in business since 1997.