Tulsa Rig Iron, Inc.
How we got $20.7M
Based on its 46 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 39 years (since 1987)
- 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
Tulsa Rig Iron, Inc. of Kiefer, OK offers new, rental and used equipment, parts and service, including mud recycling systems and mud pumps.
From the company's website. Industry: Oil and Gas Field Machinery and Equipment Manufacturing.
Estimated value over time
▼ 13% 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
▼ 39% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 46 | $25.7M |
| 2020 | Form 5500 | 35 | $19.5M |
| 2021 | Form 5500 | 31 | $17.3M |
| 2022 | Form 5500 | 28 | $15.6M |
| 2023 | Form 5500 | 28 | $15.6M |
| 2024 | Form 5500 | 29 | $16.2M |
| 2025 | Form 5500 | 28 | $15.6M |
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 |
|---|---|---|
| TULSA RIG IRON, INC. this business | $34.3M | — |
| B & J LAWN AND LANDSCAPE, LLC Sapulpa · 4 employees | $3.9M | 3.9 mi |
| GASTECH ENGINEERING LLC Sapulpa · 92 employees | $79.7M | 6.3 mi |
| SAWYER MANUFACTURING COMPANY Tulsa · 51 employees | $46.2M | 7.7 mi |
| HERO FLARE LLC Kellyville · 16 employees | $10.7M | 9.4 mi |
| ATS GROUP LLC Tulsa · 102 employees | $101.9M | 9.7 mi |
| BRONCO MANUFACTURING, LLC Tulsa · 42 employees | $33.1M | 10.0 mi |
The full calculation
| Employees reported to the SBA | 46 |
| 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) | $27.8M |
| Estimate: the two combined (geometric mean) | $34.3M |
| EBITDA margin (industry, adjusted for size) | 10% |
| EBITDA = revenue × margin | $3.6M |
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 | $20.7M |
| Multiple for this size and industry | 5.8× |
| Value range | $10.9M – $28.3M |
| Revenue range | $22.5M – $39.1M |
| EBITDA range | $2.3M – $4.1M |
| Industry (NAICS) | Oil and Gas Field Machinery and Equipment Manufacturing (333132) |
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
“Founded in 1987 by J.D. Young, Tulsa Rig Iron was the premier designer and manufacturer of horizontal directional drilling rigs, along with mud pumps and mud recycling systems.”
Leadership
- JDJohn DonohueVice President of Operations · Company website · source
- KGKaren GibbonsCFO and Human Resources · Company website · source
- TFTerry FlynnVice President of Sales and Marketing · Company website · source
- SLShawn LowmanDirector of Sales · Company website · source
- MFMike FordonskiParts Sales · Company website · source
Advisors
- BankingCrossFirst 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
| CrossFirst Bank PPP 2020, PPP 2021 | All 299 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/10/2020 | first | $567K | 46 |
| 1/31/2021 | second | $507K | 35 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Tulsa Rig Iron, Inc.
Tulsa Rig Iron, Inc. is an oil and gas field machinery and equipment manufacturing company in Kiefer, Oklahoma, in business since 1987. It is owned by Trevor Young (President). Its estimated annual revenue is about $34.3M, with roughly $3.6M of EBITDA. It has about 28 employees. Its estimated business value is $20.7M (likely range $10.9M–$28.3M).
Common questions
- Who owns Tulsa Rig Iron, Inc.?
- Tulsa Rig Iron, Inc. is owned by Trevor Young (President), according to public sources such as the company's website or filings.
- How much revenue does Tulsa Rig Iron, Inc. make?
- SeeBITDA estimates Tulsa Rig Iron, Inc.'s annual revenue at about $34.3M (likely between $22.5M and $39.1M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Tulsa Rig Iron, Inc. worth?
- About $20.7M, roughly 5.8× its estimated EBITDA of $3.6M, typical for a oil and gas field machinery and equipment manufacturing company its size. Likely range: $10.9M–$28.3M.
- How many employees does Tulsa Rig Iron, Inc. have?
- About 28, from its 2025 retirement-plan filing.
- When was Tulsa Rig Iron, Inc. founded?
- Tulsa Rig Iron, Inc. has been in business since 1987.