Midwest Refrigeration, Inc.
How we got $905K
Based on its 11 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
What they do
Midwest Refrigeration, Inc. is an industrial and commercial refrigeration, heating and air conditioning company that also services residential heating and air conditioning.
From the company's website. Industry: Plumbing, heating & air.
Estimated value over time
▲ 36% 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.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| MIDWEST REFRIGERATION, INC. this business | $3.2M | — |
| LEE'S PLBG LLC Enid · 2 employees | $518K | 0.1 mi |
| A-1 PLBG, HTG, A/C & SHEET METAL Enid · 5 employees | $1.4M | 0.2 mi |
| STEVENS REFRIGERATION & HEATING INC Enid · 5 employees | $1.2M | 0.2 mi |
| STEVENS REFRIGERATION Enid · 6 employees | $1.3M | 0.2 mi |
| Stevens Air Conditioning Enid | $1.8M | 0.2 mi |
| DONS DOORS LLC Enid · 7 employees | $2.7M | 0.2 mi |
The full calculation
| Employees reported to the SBA | 11 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $2.8M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $2.9M |
| Estimate: the two combined (geometric mean) | $3.2M |
| EBITDA margin (industry, adjusted for size) | 12% |
| EBITDA = revenue × margin | $377K |
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 | $905K |
| Multiple for this size and industry | 2.4× |
| Value range | $476K – $1.2M |
| Revenue range | $2.1M – $3.7M |
| EBITDA range | $248K – $430K |
| Industry (NAICS) | Plumbing, Heating, and Air-Conditioning Contractors (238220) |
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
- BankingCowboy 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
| Cowboy Bank PPP 2020, PPP 2021 | All 286 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/3/2020 | first | $99K | 11 |
| 1/16/2021 | second | $99K | 9 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Midwest Refrigeration, Inc.
Midwest Refrigeration, Inc. is a plumbing, heating & air company in Enid, Oklahoma, in business since 2021. Its estimated annual revenue is about $3.2M, with roughly $377K of EBITDA. It has about 11 employees. Its estimated business value is $905K (likely range $476K–$1.2M).
Common questions
- Who owns Midwest Refrigeration, Inc.?
- The owner of Midwest Refrigeration, 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 Midwest Refrigeration, Inc. make?
- SeeBITDA estimates Midwest Refrigeration, Inc.'s annual revenue at about $3.2M (likely between $2.1M and $3.7M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Midwest Refrigeration, Inc. worth?
- About $905K, roughly 2.4× its estimated EBITDA of $377K, typical for a plumbing, heating & air company its size. Likely range: $476K–$1.2M.
- How many employees does Midwest Refrigeration, Inc. have?
- About 11, as reported on its PPP loan.
- When was Midwest Refrigeration, Inc. founded?
- Midwest Refrigeration, Inc. has been in business since 2021.