Rich & Cartmill, Inc.
How we got $93.3M
Based on its 113 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
Rich & Cartmill Insurance & Bonds is a privately-held Trusted Choice independent insurance agency that provides commercial and personal insurance, surety and bonding, and notary bonds to businesses and individuals.
From the company's website. Industry: Insurance agencies.
Customers & suppliers
Suppliers & brands
- Zywave · brand it sells or installs
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- J & D ACQUISITION, INC. DBA JIM NORTON TOYOTA · Tulsa, 6 mi · $1.09B
- UAG TULSA VC,LLC · Tulsa, 4 mi · $444.4M
- DON THORNTON AUTMOTIVE, LLC DBA LEXUS OF TULSA · Tulsa, 3 mi · $383.9M
- JACKIE COOPER IMPORTS OF TULSA, LLC · Tulsa, 6 mi · $344.5M
- CHRIS NIKEL'S AUTOHAUS,INC. · Broken Arrow, 7 mi · $244.6M
- DRUMMOND CATTLE LLC · Tulsa, 4 mi · $129.5M
- BERRY & BERRY ACQUISITION · Tahlequah, 56 mi · $93.2M
- J-M FARMS HOLDING, LLC · Miami, 81 mi · $76.3M
- LIVESAY ORCHARDS · Porter, 29 mi · $35.7M
- GREEN ACRE SOD FARMS, INC · Bixby, 8 mi · $31.0M
Estimated value over time
▲ 30% 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
▲ 12% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 113 | $20.3M |
| 2020 | Form 5500 | 110 | $19.7M |
| 2021 | Form 5500 | 109 | $19.5M |
| 2022 | Form 5500 | 112 | $20.1M |
| 2023 | Form 5500 | 133 | $23.8M |
| 2024 | Form 5500 | 127 | $22.8M |
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 |
|---|---|---|
| RICH & CARTMILL, INC. this business | $46.7M | — |
| DEARDORFF & ASSOCIATES, INC. Tulsa · 1 employees | $328K | 0.0 mi |
| SELMAN INSURANCE AGENCY INC Tulsa · 1 employees | $408K | 0.0 mi |
| Haverfield Rich Tulsa | $806K | 0.0 mi |
| Karl Seizinger Cic Insurance Tulsa | $806K | 0.0 mi |
| Mccullough Mike Tulsa | $806K | 0.0 mi |
| Farmers Insurance - Tyrance Billingsley Tulsa | $806K | 0.1 mi |
The full calculation
| Employees reported to the SBA | 113 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $41.7M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $40.3M |
| Estimate: the two combined (geometric mean) | $46.7M |
| EBITDA margin (industry, adjusted for size) | 22% |
| EBITDA = revenue × margin | $10.4M |
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 | $93.3M |
| Multiple for this size and industry | 9× |
| Value range | $49.1M – $127.7M |
| Revenue range | $30.7M – $53.3M |
| EBITDA range | $6.8M – $11.8M |
| Industry (NAICS) | Insurance Agencies and Brokerages (524210) |
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
Leadership
- MMMike McCulloughCFO · From a web search · source
- MMMichael McculloughSigned for the company · 2024 retirement-plan filing (Form 5500)
Advisors
- AccountingConklin, Gilpin, Wertz PLLCAudits its 401(k) plan (2024 filing)
- BankingVast Bank, National AssociationPPP / 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
| Vast Bank, National Association PPP 2020 | All 359 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 | $1.6M | 113 |
4 locations
| 2738 E. 51ST ST | Tulsa | This listing |
| 1608 Northwest Expy | Oklahoma City | View |
| 9401 Cedar Lake Ave | Oklahoma City | View |
| 12899 E 76th St N Ste 116 | Owasso | View |
Revenue, profit and value are for the whole company.
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Rich & Cartmill, Inc.
Rich & Cartmill, Inc. is an insurance agencies company in Tulsa, Oklahoma, in business since 1997. It is owned by Michael Roller (Shareholder & Part Owner). Its estimated annual revenue is about $46.7M, with roughly $10.4M of EBITDA. It has about 127 employees. Its estimated business value is $93.3M (likely range $49.1M–$127.7M). It has 4 locations.
Common questions
- Who owns Rich & Cartmill, Inc.?
- Rich & Cartmill, Inc. is owned by Michael Roller (Shareholder & Part Owner), according to public sources such as the company's website or filings.
- How much revenue does Rich & Cartmill, Inc. make?
- SeeBITDA estimates Rich & Cartmill, Inc.'s annual revenue at about $46.7M (likely between $30.7M and $53.3M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Rich & Cartmill, Inc. worth?
- About $93.3M, roughly 9× its estimated EBITDA of $10.4M, typical for a insurance agencies company its size. Likely range: $49.1M–$127.7M.
- How many employees does Rich & Cartmill, Inc. have?
- About 127, from its 2024 retirement-plan filing.
- When was Rich & Cartmill, Inc. founded?
- Rich & Cartmill, Inc. has been in business since 1997.