Wetherbee Electric, Inc
How we got $2.9M
Based on its 25 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 127 years (since 1899)
- Family in the business (carrie Cooke, VP of Operations)
From public records and the company's website, not a statement that it's for sale.
What they do
Wetherbee Electric is an electrical contractor in Oklahoma City focused on industrial, parking, and municipal work, emphasizing safety and reliability. Its industrial clients are energy firms and industrial companies.
From the company's website. Industry: Electricians.
Customers & suppliers
Customers
- Enable Midstream Partners · named on its website
Suppliers & brands
- nVent ERICO · brand it sells or installs
- Burndy · brand it sells or installs
- SKIDATA · brand it sells or installs
- Hysecurity · brand it sells or installs
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- GULFPORT ENERGY CORPORATION · Oklahoma City, 10 mi · $1.42B
- MACH RESOURCES LLC · Oklahoma City, 10 mi · $1.18B
- CROWN ENERGY COMPANY · Oklahoma City, 2 mi · $711.4M
- T/J INSPECTION, INC. · Del City, 7 mi · $651.7M
- CIRCLE 9 RESOURCES LLC · Oklahoma City, 3 mi · $557.6M
Estimated value over time
▲ 22% 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
▼ 32% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 25 | $4.8M |
| 2020 | Form 5500 | 23 | $4.5M |
| 2021 | Form 5500 | 22 | $4.3M |
| 2022 | Form 5500 | 22 | $4.3M |
| 2023 | Form 5500 | 16 | $3.1M |
| 2024 | Form 5500 | 15 | $2.9M |
| 2025 | Form 5500 | 17 | $3.3M |
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.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| WETHERBEE ELECTRIC, INC this business | $10.4M | — |
| METROPOLITAN AIR CONDITIONING CO. Oklahoma City · 49 employees | $21.1M | 0.2 mi |
| MITCHELL COMMUNICATIONS, INC Oklahoma City · 23 employees | $6.8M | 0.3 mi |
| Metro Electrical Contractors Oklahoma City | $1.8M | 0.3 mi |
| HULL PLUMBING INC Oklahoma City · 22 employees | $7.3M | 0.3 mi |
| General Lighting & Sign Services Oklahoma City | $1.8M | 0.3 mi |
| Ideal Heating & Air Conditioning Oklahoma City | $1.8M | 0.5 mi |
The full calculation
| Employees reported to the SBA | 25 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $7.2M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $11.5M |
| Estimate: the two combined (geometric mean) | $10.4M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $967K |
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 | $2.9M |
| Multiple for this size and industry | 3× |
| Value range | $1.5M – $4.0M |
| Revenue range | $6.8M – $11.8M |
| EBITDA range | $636K – $1.1M |
| Industry (NAICS) | Electrical Contractors and Other Wiring Installation Contractors (238210) |
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
Leadership
- TFthomas fugateSystems Manager · Company website · source
- CCcarrie CookeVP of Operations · Company website · source
- JRjesse rogersEstimator & Project Manager · Company website · source
- JSJeff ScottVP of Construction · Company website · source
- DMDavid McPeakEstimator & Project Manager · Company website · source
Advisors
- BankingFidelity 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
| Fidelity Bank, National Association PPP 2020, PPP 2021 | All 161 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/7/2020 | first | $425K | 24 |
| 2/12/2021 | second | $324K | 25 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Wetherbee Electric, Inc
Wetherbee Electric, Inc is an electricians company in Oklahoma City, Oklahoma, in business since 1899. It is owned by Mike Cooke (President). Its estimated annual revenue is about $10.4M, with roughly $967K of EBITDA. It has about 17 employees. Its estimated business value is $2.9M (likely range $1.5M–$4.0M).
Common questions
- Who owns Wetherbee Electric, Inc?
- Wetherbee Electric, Inc is owned by Mike Cooke (President), according to public sources such as the company's website or filings.
- How much revenue does Wetherbee Electric, Inc make?
- SeeBITDA estimates Wetherbee Electric, Inc's annual revenue at about $10.4M (likely between $6.8M and $11.8M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Wetherbee Electric, Inc worth?
- About $2.9M, roughly 3× its estimated EBITDA of $967K, typical for a electricians company its size. Likely range: $1.5M–$4.0M.
- How many employees does Wetherbee Electric, Inc have?
- About 17, from its 2025 retirement-plan filing.
- When was Wetherbee Electric, Inc founded?
- Wetherbee Electric, Inc has been in business since 1899.