Wheeler Metals, Inc
How we got $73.2M
Based on its 128 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 58 years (since 1968)
From public records and the company's website, not a statement that it's for sale.
What they do
Wheeler Metals is a business established in 1968 that provides metal products and services to its customers, with locations in Oklahoma, Arkansas and Missouri. It sells building materials, tools, farm equipment, and welding supplies.
From the company's website. Industry: Metal Service Centers and Other Metal Merchant Wholesalers.
Customers & suppliers
Suppliers & brands
- Ingersoll - Rand · brand it sells or installs
Estimated value over time
▲ 24% 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
▼ 24% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 128 | $190.0M |
| 2025 | Form 5500 | 97 | $144.0M |
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 |
|---|---|---|
| WHEELER METALS, INC this business | $171.7M | — |
| OK METALS LLC Muskogee · 7 employees | $9.9M | 1.9 mi |
| LEWIS STEEL & WIRE Broken Arrow · 4 employees | $6.4M | 26.9 mi |
| PHOENIX COAL SALES INC. Broken Arrow · 8 employees | $60.6M | 29.8 mi |
| BELCO SALES, LLC Tulsa · 1 employees | $2.2M | 30.9 mi |
| HORIZON METALS LLC Tulsa · 4 employees | $12.0M | 30.9 mi |
| ACE ALLOYS, LLC Catoosa · 8 employees | $20.9M | 31.9 mi |
The full calculation
| Employees reported to the SBA | 128 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $202.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $112.1M |
| Estimate: the two combined (geometric mean) | $171.7M |
| EBITDA margin (industry, adjusted for size) | 6% |
| EBITDA = revenue × margin | $10.3M |
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 | $73.2M |
| Multiple for this size and industry | 7.1× |
| Value range | $38.5M – $100.1M |
| Revenue range | $113.0M – $195.8M |
| EBITDA range | $6.8M – $11.7M |
| Industry (NAICS) | Metal Service Centers and Other Metal Merchant Wholesalers (423510) |
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
“Established in 1968, Wheeler Metals has been providing quality service and products to our customers for over 55 years.”
Advisors
- BankingBOKF, 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
| BOKF, National Association PPP 2020 | All 2,399 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/5/2020 | first | $1.1M | 128 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Wheeler Metals, Inc
Wheeler Metals, Inc is a metal service centers and other metal merchant wholesalers company in Muskogee, Oklahoma, in business since 1968. It is owned by Benny Wheeler. Its estimated annual revenue is about $171.7M, with roughly $10.3M of EBITDA. It has about 97 employees. Its estimated business value is $73.2M (likely range $38.5M–$100.1M).
Common questions
- Who owns Wheeler Metals, Inc?
- Wheeler Metals, Inc is owned by Benny Wheeler, according to public sources such as the company's website or filings.
- How much revenue does Wheeler Metals, Inc make?
- SeeBITDA estimates Wheeler Metals, Inc's annual revenue at about $171.7M (likely between $113.0M and $195.8M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Wheeler Metals, Inc worth?
- About $73.2M, roughly 7.1× its estimated EBITDA of $10.3M, typical for a metal service centers and other metal merchant wholesalers company its size. Likely range: $38.5M–$100.1M.
- How many employees does Wheeler Metals, Inc have?
- About 97, from its 2025 retirement-plan filing.
- When was Wheeler Metals, Inc founded?
- Wheeler Metals, Inc has been in business since 1968.