Tower Inspection, Inc.
How we got $5.1M
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 Likely to sell
- In business 64 years (since 1962)
- No family successor named on its website
- Headcount down 20% since 2023 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
What they do
Tower Inspection, Inc. is a Muskogee, OK firm that inspects, designs, installs and maintains towers, antennas and transmission lines, and says it has been in business since 1962.
From the company's website. Industry: Power and Communication Line and Related Structures Construction.
Customers & suppliers
Customers
- National Oceanic and Atmospheric Administration · federal contracts $5.1M
- Federal Aviation Administration · federal contracts $1.1M
- United States Coast Guard · named on its website
- United States Navy · named on its website
- United States Air Force · named on its website
- Federal Aviation Administration · named on its website
- AECOM · named on its website
- Long Wave, Inc · named on its website
- Oklahoma Gas & Electric · named on its website
- Raytheon Australia · named on its website
- NCTAMS LANT DET Cutler · named on its website
- AT&T Wireless · named on its website
- Cellular One · named on its website
- Southwestern Bell Mobile Systems · named on its website
- Cingular · named on its website
- Bechtel · named on its website
- US Cellular · named on its website
Suppliers & brands
- Tnx Tower · brand it sells or installs
- STAAD pro · brand it sells or installs
Estimated value over time
▲ 43% 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
▼ 20% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 30 | $9.0M |
| 2020 | Form 5500 | 19 | $5.7M |
| 2021 | Form 5500 | 20 | $6.0M |
| 2022 | Form 5500 | 23 | $6.9M |
| 2023 | Form 5500 | 30 | $9.0M |
| 2024 | Form 5500 | 24 | $7.2M |
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 |
|---|---|---|
| TOWER INSPECTION, INC. this business | $15.3M | — |
| GRAVEL GRINDING EXCAVATION LLC Muskogee · 1 employees | $621K | 1.1 mi |
| GRAYS TOWER SERVICE LLC Muskogee · 18 employees | $5.7M | 1.1 mi |
| REDFEATHER LLC Muskogee · 1 employees | $532K | 2.0 mi |
| SKYLINE TOWER GROUP LLC. Muskogee · 1 employees | $814K | 3.1 mi |
| TEXOMA CONTRACTING, INC. Muskogee · 17 employees | $7.2M | 3.8 mi |
| MILLIGAN ENTERPRISES INC Wagoner · 8 employees | $2.0M | 12.9 mi |
The full calculation
| Employees reported to the SBA | 30 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $11.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $15.7M |
| Estimate: the two combined (geometric mean) | $15.3M |
| EBITDA margin (industry, adjusted for size) | 10% |
| EBITDA = revenue × margin | $1.5M |
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 | $5.1M |
| Multiple for this size and industry | 3.4× |
| Value range | $2.7M – $7.0M |
| Revenue range | $10.1M – $17.5M |
| EBITDA range | $987K – $1.7M |
| Industry (NAICS) | Power and Communication Line and Related Structures Construction (237130) |
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
“Tower Inspection, Inc. (TII), incorporated in 1962, has been performing inspection, maintenance and installation of towers and related antennas on a worldwide basis since its inception.”
Leadership
- GGGary G. Lehman, PMPPresident · Company website · source
- NBNeal BaylessVice President · Company website · source
- PNPhilip Nickels, PCSVice President / Quality Control Manager / Project Manager / · Company website · source
- SMSarah MooreVice President / Project Manager · Company website · source
- MLMike L. KirbySuperintendent / Journeyman Ironworker · Company website · source
- MCMark CantrellSuperintendent · Company website · source
Advisors
- BankingUMB 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
| UMB Bank, National Association PPP 2020, PPP 2021 | All 99 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 | $472K | 30 |
| 1/23/2021 | second | $341K | 30 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Tower Inspection, Inc.
Tower Inspection, Inc. is a power and communication line and related structures construction company in Muskogee, Oklahoma, in business since 1962. It is owned by Gary G. Lehman (President). Its estimated annual revenue is about $15.3M, with roughly $1.5M of EBITDA. It has about 24 employees. Its estimated business value is $5.1M (likely range $2.7M–$7.0M).
Common questions
- Who owns Tower Inspection, Inc.?
- Tower Inspection, Inc. is owned by Gary G. Lehman (President), according to public sources such as the company's website or filings.
- How much revenue does Tower Inspection, Inc. make?
- SeeBITDA estimates Tower Inspection, Inc.'s annual revenue at about $15.3M (likely between $10.1M and $17.5M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Tower Inspection, Inc. worth?
- About $5.1M, roughly 3.4× its estimated EBITDA of $1.5M, typical for a power and communication line and related structures construction company its size. Likely range: $2.7M–$7.0M.
- How many employees does Tower Inspection, Inc. have?
- About 24, from its 2024 retirement-plan filing.
- When was Tower Inspection, Inc. founded?
- Tower Inspection, Inc. has been in business since 1962.
- Is Tower Inspection, Inc. for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 64 years (since 1962); no family successor named on its website; headcount down 20% since 2023 (retirement plan filings).