Spectrum Lng, LLC
How we got $12.9M
Based on its 9 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Unlikely to sell soon
- Acquired by Sapphire Gas Solutions (2026)
From public records and the company's website, not a statement that it's for sale.
Ownership & transactions
- Acquired by Sapphire Gas Solutions · Sep 2026Sapphire Gas Solutions acquired assets owned by Spectrum LNG, including an operating LNG plant in Ehrenberg, Arizona, as announced September 8, 2026.Source
Estimated value over time
▲ 31% 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 |
|---|---|---|
| SPECTRUM LNG, LLC this business | $67.7M | — |
| CYCLONE PETROLEUM, INC. Jenks · 5 employees | $66.6M | 1.5 mi |
| VESTA TRADING AND TRANSPORTATION LLC Tulsa · 4 employees | $47.4M | 3.0 mi |
| NATIONAL PETROLEUM SALES, INC. Tulsa · 1 employees | $10.0M | 4.2 mi |
| AVP METRO PETROLEUM LLC Tulsa · 103 employees | $548.2M | 6.3 mi |
| MONTELLO, INC. Tulsa · 6 employees | $64.7M | 6.9 mi |
| MAXWELL OIL CORPORATION Tulsa · 3 employees | $28.1M | 7.0 mi |
The full calculation
| Employees reported to the SBA | 9 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $72.0M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $63.6M |
| Estimate: the two combined (geometric mean) | $67.7M |
| EBITDA margin (industry, adjusted for size) | 4% |
| EBITDA = revenue × margin | $2.5M |
Brought up to date: prices are 10% higher than in the benchmark's year and Oklahoma employment in this industry has grown 5% since 2020, both included above.
| Estimated value = EBITDA × typical sale multiple | $12.9M |
| Multiple for this size and industry | 5.2× |
| Value range | $7.8M – $20.2M |
| Revenue range | $50.8M – $88.0M |
| EBITDA range | $1.9M – $3.2M |
| Industry (NAICS) | Petroleum Bulk Stations and Terminals (424710) |
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
- BankingProsperity 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
| Prosperity Bank PPP 2020 | All 748 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/30/2020 | first | $124K | 9 |
2 locations
| 8605 S Elwood Ave, B123 | Tulsa | This listing |
| 1709 Utica Sq | Tulsa | 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 Spectrum Lng, LLC
Spectrum Lng, LLC is a petroleum bulk stations and terminals company in Tulsa, Oklahoma. It is owned by Raymond R. Latchem (Founder). Its estimated annual revenue is about $67.7M, with roughly $2.5M of EBITDA. It has about 9 employees. Its estimated business value is $12.9M (likely range $7.8M–$20.2M). It has 2 locations.
Common questions
- Who owns Spectrum Lng, LLC?
- Spectrum Lng, LLC is owned by Raymond R. Latchem (Founder), according to public sources such as the company's website or filings.
- How much revenue does Spectrum Lng, LLC make?
- SeeBITDA estimates Spectrum Lng, LLC's annual revenue at about $67.7M (likely between $50.8M and $88.0M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Spectrum Lng, LLC worth?
- About $12.9M, roughly 5.2× its estimated EBITDA of $2.5M, typical for a petroleum bulk stations and terminals company its size. Likely range: $7.8M–$20.2M.
- How many employees does Spectrum Lng, LLC have?
- About 9, as reported on its PPP loan.