Primeco Claims Group
- Mitch WhitmanPresident · Company website
- Preston StoeckVice President · Company website
How we got $3.6M
Based on its 8 employees and its payroll, both reported for PPP in 2020 and brought up to date.
Estimated value over time
▲ 56% 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
▲ 88% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 8 | $1.8M |
| 2024 | Form 5500 | 15 | $3.4M |
| 2025 | Form 5500 | 15 | $3.4M |
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.
What we know
Signs of a sale Unlikely to sell soon
- In business 39 years (since 1987)
- Family in the business (Mitch Whitman, President)
From public records and the company's website, not a statement that it's for sale.
What they do
Primeco Claims Group is a full-service independent adjustment company that provides claims handling and adjusters when a carrier representative is not available. It offers residential, commercial, auto liability, farm and ranch claims, and temporary staffing for desk adjusters.
From the company's website. Industry: Insurance agencies.
Customers & suppliers
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- DRUMMOND CATTLE LLC · Tulsa, 6 mi · $129.6M
- BERRY & BERRY ACQUISITION · Tahlequah, 52 mi · $93.3M
- J-M FARMS, INC · Miami, 80 mi · $82.0M
- J-M FARMS HOLDING, LLC · Miami, 77 mi · $76.3M
- J-M FOODS, LLC · Miami, 80 mi · $37.0M
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| PRIMECO CLAIMS GROUP this business | $2.7M | — |
| BUCHANAN INSURANCE AGENCY INC Tulsa · 4 employees | $894K | 0.0 mi |
| Fedrated Insurance Tulsa | $815K | 0.0 mi |
| Guy Landes Tulsa | $815K | 0.0 mi |
| Farmers Insurance - Teena Hillburn Tulsa | $815K | 0.1 mi |
| BRACKEN INSURANCE & FINANCIAL SERVICES, INC. Tulsa · 1 employees | $270K | 0.1 mi |
| GARY W. LEHRMAN INSURANCE AGENCY, INC. Tulsa · 4 employees | $730K | 0.1 mi |
The full calculation
| Employees reported to the SBA | 8 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $2.4M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $2.3M |
| Estimate: the two combined (geometric mean) | $2.7M |
| EBITDA margin (industry, adjusted for size) | 30% |
| EBITDA = revenue × margin | $796K |
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 | $3.6M |
| Multiple for this size and industry | 4.5× |
| Value range | $1.9M – $4.9M |
| Revenue range | $1.8M – $3.1M |
| EBITDA range | $523K – $907K |
| Industry (NAICS) | All Other Insurance Related Activities (524298) |
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. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
History & advisors
“Since 1987 the Primeco companies have provided Best-In-Class services to the property insurance industry.”
Advisors
- BankingTexas Partners 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
| Texas Partners Bank PPP 2020 | All 3 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/27/2020 | first | $85K | 8 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Primeco Claims Group
Primeco Claims Group is an insurance agencies company in Tulsa, Oklahoma, in business since 1987. It is owned by Denise Whitman (CEO). Its estimated annual revenue is about $2.7M, with roughly $796K of EBITDA. It has about 15 employees. Its estimated business value is $3.6M (likely range $1.9M–$4.9M).
Common questions
- Who owns Primeco Claims Group?
- Primeco Claims Group is owned by Denise Whitman (CEO), according to public sources such as the company's website or filings.
- How much revenue does Primeco Claims Group make?
- SeeBITDA estimates Primeco Claims Group's annual revenue at about $2.7M (likely between $1.8M and $3.1M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Primeco Claims Group worth?
- About $3.6M, roughly 4.5× its estimated EBITDA of $796K, typical for a insurance agencies company its size. Likely range: $1.9M–$4.9M.
- How many employees does Primeco Claims Group have?
- About 15, from its 2025 retirement-plan filing.
- When was Primeco Claims Group founded?
- Primeco Claims Group has been in business since 1987.