Red Devil, Incorporated
How we got $50.7M
Based on its 93 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 154 years (since 1872)
From public records and the company's website, not a statement that it's for sale.
What they do
Red Devil, Inc. is a family-owned hardware and building products company that makes sealants, caulks, spackling compounds, adhesives and related tools for consumers and professionals. Its site says it sells products in more than 160 countries.
From the company's website. Industry: Adhesive Manufacturing.
Estimated value over time
▲ 38% 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 |
|---|---|---|
| RED DEVIL, INCORPORATED this business | $84.2M | — |
| CHEMPROOF POLYMERS, INC Tulsa · 4 employees | $3.9M | 2.1 mi |
| AMERICAN INDUSTRIAL, INC. Tulsa · 2 employees | $2.2M | 2.8 mi |
| H & H PROTECTIVE COATINGS COMPANY Tulsa · 9 employees | $5.8M | 3.3 mi |
| ANCHOR PAINT MFG. CO. INC Tulsa · 60 employees | $43.7M | 4.8 mi |
| TULSA POWDER COATING, INC Tulsa · 10 employees | $5.7M | 5.9 mi |
| APEX INDUSTRIES, INC Tulsa · 70 employees | $53.9M | 7.0 mi |
The full calculation
| Employees reported to the SBA | 93 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $80.7M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $67.6M |
| Estimate: the two combined (geometric mean) | $84.2M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $7.8M |
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 | $50.7M |
| Multiple for this size and industry | 6.5× |
| Value range | $26.7M – $69.3M |
| Revenue range | $55.4M – $96.0M |
| EBITDA range | $5.1M – $8.9M |
| Industry (NAICS) | Adhesive Manufacturing (325520) |
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
People & advisors
“1950 –George Lee Jr. succeeds his father as president and CEO and would later be succeed by his son William Lee in 2001, which would mark four generations of the company being family owned and operated.”
Advisors
- BankingArvest Bank, Equity 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
| Arvest Bank PPP 2020 | All 5,114 borrowers → |
| Equity Bank 504 2021 | All 375 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/8/2020 | first | $1.1M | 93 |
2 locations
| 1437 BOULDER AVE #750 | Tulsa | This listing |
| 4175 Webb St | Pryor | View |
Revenue, profit and value are for the whole company.
Public records
| Aug 2021 | 504 | $529K |
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Red Devil, Incorporated
Red Devil, Incorporated is a family-owned adhesive manufacturing company in Tulsa, Oklahoma, in business since 1872. Its estimated annual revenue is about $84.2M, with roughly $7.8M of EBITDA. It has about 93 employees. Its estimated business value is $50.7M (likely range $26.7M–$69.3M). It has 2 locations.
Common questions
- Who owns Red Devil, Incorporated?
- The owner of Red Devil, Incorporated 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 Red Devil, Incorporated make?
- SeeBITDA estimates Red Devil, Incorporated's annual revenue at about $84.2M (likely between $55.4M and $96.0M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Red Devil, Incorporated worth?
- About $50.7M, roughly 6.5× its estimated EBITDA of $7.8M, typical for a adhesive manufacturing company its size. Likely range: $26.7M–$69.3M.
- How many employees does Red Devil, Incorporated have?
- About 93, as reported on its PPP loan.
- When was Red Devil, Incorporated founded?
- Red Devil, Incorporated has been in business since 1872.