Tulco Oils Inc.
- Mike HannVice President · Company website
- Don FelthamCfo · Company website
- Don StantonVP of Operations · Company website
- Donald FelthamSigns company filings · Form 5500 (2024)
How we got $60.6M
Based on its 60 employees and its payroll, both reported for PPP in 2020 and brought up to date.
Estimated value over time
▲ 23% 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
▲ 5% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 60 | $94.5M |
| 2020 | Form 5500 | 58 | $91.4M |
| 2021 | Form 5500 | 54 | $85.1M |
| 2022 | Form 5500 | 60 | $94.5M |
| 2023 | Form 5500 | 62 | $97.7M |
| 2024 | Form 5500 | 70 | $110.3M |
| 2025 | Form 5500 | 63 | $99.3M |
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.
What we know
Signs of a sale Likely to sell
- In business 69 years (since 1957)
- No family successor named on its website
From public records and the company's website, not a statement that it's for sale.
What they do
Tulco Oil Inc. is a family-owned manufacturer of industrial lubricants, including its Lubsoil brand, for a variety of industries. It says it serves customers around the globe.
From the company's website. Industry: Petroleum Lubricating Oil and Grease Manufacturing.
Ownership & transactions
- Acquired by Acrisure, LLC · Aug 2020Acrisure, LLC acquired Tulco Oils, Inc. on August 1, 2020, reportedly for $400M according to LeadIQ.Source
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| TULCO OILS INC. this business | $102.3M | — |
| BRASHEAR PAVEMENT COATINGS, LLC Tulsa · 4 employees | $6.7M | 2.7 mi |
| Crafco, Inc. Tulsa | $4.0M | 3.2 mi |
| SKINNER BROTHERS COMPANY INC Tulsa · 14 employees | $15.6M | 3.5 mi |
| Holly Refinery Tulsa | $1.8M | 5.9 mi |
| ASPHALT AND FUEL SUPPLY, LLC Tulsa · 23 employees | $47.2M | 5.9 mi |
| ASPHALT AND FUEL TRANSPORT LLC Tulsa · 33 employees | $65.0M | 5.9 mi |
The full calculation
| Employees reported to the SBA | 60 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $86.2M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $93.4M |
| Estimate: the two combined (geometric mean) | $102.3M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $9.3M |
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 | $60.6M |
| Multiple for this size and industry | 6.5× |
| Value range | $31.9M – $82.9M |
| Revenue range | $67.3M – $116.7M |
| EBITDA range | $6.1M – $10.6M |
| Industry (NAICS) | Petroleum Lubricating Oil and Grease Manufacturing (324191) |
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
“Since 1957, Tulco has been a leader in providing quality industrial lubricants for a variety of industries around the globe.”
Advisors
- BankingMabrey 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
| Mabrey Bank PPP 2020, PPP 2021 | All 851 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/4/2020 | first | $1.1M | 60 |
| 1/28/2021 | second | $998K | 59 |
3 locations
| 5240 E. PINE STREET | Tulsa | This listing |
| 1000 S High Ave | Oklahoma City | View |
| 2415 S Nicklas Ave | Oklahoma City | 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 Tulco Oils Inc.
Tulco Oils Inc. is a family-owned petroleum lubricating oil and grease manufacturing company in Tulsa, Oklahoma, in business since 1957. It is owned by Dylan Cope (President). Its estimated annual revenue is about $102.3M, with roughly $9.3M of EBITDA. It has about 63 employees. Its estimated business value is $60.6M (likely range $31.9M–$82.9M). It has 3 locations.
Common questions
- Who owns Tulco Oils Inc.?
- Tulco Oils Inc. is owned by Dylan Cope (President), according to public sources such as the company's website or filings.
- How much revenue does Tulco Oils Inc. make?
- SeeBITDA estimates Tulco Oils Inc.'s annual revenue at about $102.3M (likely between $67.3M and $116.7M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Tulco Oils Inc. worth?
- About $60.6M, roughly 6.5× its estimated EBITDA of $9.3M, typical for a petroleum lubricating oil and grease manufacturing company its size. Likely range: $31.9M–$82.9M.
- How many employees does Tulco Oils Inc. have?
- About 63, from its 2025 retirement-plan filing.
- When was Tulco Oils Inc. founded?
- Tulco Oils Inc. has been in business since 1957.
- Is Tulco Oils Inc. for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 69 years (since 1957); no family successor named on its website.