True Steel LLC
How we got $10.5M
Based on its 33 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
- In business 20 years (since 2006)
From public records and the company's website, not a statement that it's for sale.
Estimated value over time
▲ 28% 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 |
|---|---|---|
| TRUE STEEL LLC this business | $50.9M | — |
| DANNY ENGEL CONSTRUCTION LLC Ada · 11 employees | $7.5M | 1.6 mi |
| C3 CONSTRUCTION INC. Ada · 31 employees | $31.9M | 3.3 mi |
| MACHILL CONSTRUCTION COMPANY, INC. Ada · 34 employees | $38.7M | 5.1 mi |
| JB METAL BUILDING CONSTRUCTION LLC Roff · 5 employees | $2.8M | 16.9 mi |
| NATIVE CONSTRUCTION & ROOFING INC Stratford · 5 employees | $4.3M | 19.9 mi |
| ARROWHEAD INDUSTRIES, INC. Stratford · 5 employees | $2.3M | 24.0 mi |
The full calculation
| Employees reported to the SBA | 33 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $32.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $61.2M |
| Estimate: the two combined (geometric mean) | $50.9M |
| EBITDA margin (industry, adjusted for size) | 5% |
| EBITDA = revenue × margin | $2.6M |
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 | $10.5M |
| Multiple for this size and industry | 4.1× |
| Value range | $5.5M – $14.4M |
| Revenue range | $33.5M – $58.0M |
| EBITDA range | $1.7M – $2.9M |
| Industry (NAICS) | Commercial and Institutional Building Construction (236220) |
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
- BankingSimmons Bank, First 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 → |
| Simmons Bank PPP 2020 | All 789 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/28/2020 | first | $732K | 33 |
| 1/23/2021 | second | $688K | 33 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About True Steel LLC
True Steel LLC is a commercial construction company in Ada, Oklahoma, in business since 2006. Its estimated annual revenue is about $50.9M, with roughly $2.6M of EBITDA. It has about 33 employees. Its estimated business value is $10.5M (likely range $5.5M–$14.4M).
Common questions
- Who owns True Steel LLC?
- The owner of True Steel 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 LLC make?
- SeeBITDA estimates True Steel LLC's annual revenue at about $50.9M (likely between $33.5M and $58.0M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is True Steel LLC worth?
- About $10.5M, roughly 4.1× its estimated EBITDA of $2.6M, typical for a commercial construction company its size. Likely range: $5.5M–$14.4M.
- How many employees does True Steel LLC have?
- About 33, as reported on its PPP loan.
- When was True Steel LLC founded?
- True Steel LLC has been in business since 2006.