Testers Incorporated
How we got $15.3M
Based on its 30 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 46 years (since 1980)
From public records and the company's website, not a statement that it's for sale.
What they do
Testers, Inc. (Hailey Specialty Tools) provides testing services and rents and sells coiled tubing tools, providing quality tools and service since 1980 and available 24 hours a day.
From the company's website. Industry: Oil & gas.
Estimated value over time
▲ 9% 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 |
|---|---|---|
| TESTERS INCORPORATED this business | $14.2M | — |
| Hailey Specialty Tools Oklahoma City | $1.5M | 0.0 mi |
| ARCADIA DOWNHOLE SERVICES, INC. Oklahoma City · 1 employees | $356K | 1.1 mi |
| Ferrell Oil Company Oklahoma City | $1.5M | 1.3 mi |
| Enable Midstream Partners Oklahoma City | $1.5M | 1.6 mi |
| EDINGER ENGINEERING, INC. Oklahoma City · 6 employees | $3.4M | 1.7 mi |
| ROCK CREEK LAND AND ENERGY, LLC Oklahoma City · 6 employees | $3.4M | 1.7 mi |
The full calculation
| Employees reported to the SBA | 30 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $13.3M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $11.7M |
| Estimate: the two combined (geometric mean) | $14.2M |
| EBITDA margin (industry, adjusted for size) | 24% |
| EBITDA = revenue × margin | $3.5M |
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 | $15.3M |
| Multiple for this size and industry | 4.4× |
| Value range | $8.1M – $20.9M |
| Revenue range | $9.4M – $16.2M |
| EBITDA range | $2.3M – $4.0M |
| Industry (NAICS) | Support Activities for Oil and Gas Operations (213112) |
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
- BankingMidFirst 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
| MidFirst Bank PPP 2020 | All 2,403 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/11/2020 | first | $331K | 30 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Testers Incorporated
Testers Incorporated is an oil & gas company in Oklahoma City, Oklahoma, in business since 1980. It is owned by Herbert Hailey (President). Its estimated annual revenue is about $14.2M, with roughly $3.5M of EBITDA. It has about 30 employees. Its estimated business value is $15.3M (likely range $8.1M–$20.9M).
Common questions
- Who owns Testers Incorporated?
- Testers Incorporated is owned by Herbert Hailey (President), according to public sources such as the company's website or filings.
- How much revenue does Testers Incorporated make?
- SeeBITDA estimates Testers Incorporated's annual revenue at about $14.2M (likely between $9.4M and $16.2M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Testers Incorporated worth?
- About $15.3M, roughly 4.4× its estimated EBITDA of $3.5M, typical for a oil & gas company its size. Likely range: $8.1M–$20.9M.
- How many employees does Testers Incorporated have?
- About 30, as reported on its PPP loan.
- When was Testers Incorporated founded?
- Testers Incorporated has been in business since 1980.