True Steel Rental LLC
How we got $2.5M
Based on its 2 employees and its payroll, both reported for PPP in 2021 and brought up to date.
What we know
Signs of a sale Unlikely to sell soon
- In business 17 years (since 2009)
From public records and the company's website, not a statement that it's for sale.
What they do
True Steel Rental LLC presents itself as a wind energy services company, according to its homepage title.
From the company's website. Industry: Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing.
Estimated value over time
▲ 8% since 2021Today'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 |
|---|---|---|
| TRUE STEEL RENTAL LLC this business | $1.8M | — |
| SUTTON SERVICES, LLC Ada · 1 employees | $457K | 4.2 mi |
| TRINITY EQUIPMENT LEASING LLC Ada · 1 employees | $507K | 5.3 mi |
| GREAT PLAINS, LLC Ada · 88 employees | $69K | 6.5 mi |
| HOPPES CONSTRUCTION LLC Ada · 79 employees | $41.6M | 8.5 mi |
| T & T CONSTRUCTION Coalgate · 1 employees | $947K | 24.8 mi |
| Okie Rents Davis Davis | $1.9M | 30.5 mi |
The full calculation
| Employees reported to the SBA | 2 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $1.3M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $1.9M |
| Estimate: the two combined (geometric mean) | $1.8M |
| EBITDA margin (industry, adjusted for size) | 37% |
| EBITDA = revenue × margin | $667K |
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 | $2.5M |
| Multiple for this size and industry | 3.8× |
| Value range | $1.3M – $3.5M |
| Revenue range | $1.2M – $2.1M |
| EBITDA range | $439K – $760K |
| Industry (NAICS) | Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing (532412) |
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
History & advisors
Advisors
- BankingFirst United Bank and Trust CompanyPPP / 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
| First United Bank and Trust Company PPP 2021 | All 2,229 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 2/26/2021 | first | $38K | 2 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About True Steel Rental LLC
True Steel Rental LLC is a construction, mining, and forestry machinery and equipment rental and leasing company in Ada, Oklahoma, in business since 2009. Its estimated annual revenue is about $1.8M, with roughly $667K of EBITDA. It has about 2 employees. Its estimated business value is $2.5M (likely range $1.3M–$3.5M).
Common questions
- Who owns True Steel Rental LLC?
- The owner of True Steel Rental LLC 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 True Steel Rental LLC make?
- SeeBITDA estimates True Steel Rental LLC's annual revenue at about $1.8M (likely between $1.2M and $2.1M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is True Steel Rental LLC worth?
- About $2.5M, roughly 3.8× its estimated EBITDA of $667K, typical for a construction, mining, and forestry machinery and equipment rental and leasing company its size. Likely range: $1.3M–$3.5M.
- How many employees does True Steel Rental LLC have?
- About 2, as reported on its PPP loan.
- When was True Steel Rental LLC founded?
- True Steel Rental LLC has been in business since 2009.