Phase 2 Development LLC
How we got $5.3M
Based on its 19 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Likely to sell
- In business 27 years (since 1999)
- Founder still runs it after 27 years
From public records and the company's website, not a statement that it's for sale.
What they do
Phase2 is an employee-owned software engineering and AI consultancy that has delivered complex enterprise solutions for nearly 30 years. It serves organizations needing enterprise AI, software engineering, mission-critical systems, and digital transformation.
From the company's website. Industry: IT & software.
Customers & suppliers
Customers
- ODOT · named on its website
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- LSB INDUSTRIES, INC · Oklahoma City, 5 mi · $615.2M
- DELAWARE RESOURCE GROUP OF OKLAHOMA, LLC · Oklahoma City, 1 mi · $339.5M
- SOUTHWESTERN WIRE INC · Norman, 30 mi · $312.3M
- AIRX CLIMATE SOLUTIONS, INC. · Yukon, 13 mi · $245.1M
- MERCER VALVE CO., INC. · Oklahoma City, 11 mi · $231.9M
Estimated value over time
▲ 37% 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
▲ 268% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 19 | $4.4M |
| 2020 | Form 5500 | 25 | $5.8M |
| 2021 | Form 5500 | 35 | $8.2M |
| 2022 | Form 5500 | 49 | $11.4M |
| 2023 | Form 5500 | 67 | $15.6M |
| 2024 | Form 5500 | 79 | $18.4M |
| 2025 | Form 5500 | 70 | $16.3M |
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 |
|---|---|---|
| PHASE 2 DEVELOPMENT LLC this business | $8.1M | — |
| DRAKEWELL LLC Oklahoma City · 6 employees | $2.6M | 0.0 mi |
| OF ASH AND FIRE, LLC Oklahoma City | $1.3M | 0.7 mi |
| JACOB TECHNOLOGIES Oklahoma City · 7 employees | $2.1M | 1.0 mi |
| UNITK SOFTWARE LLC Oklahoma City · 1 employees | $355K | 1.0 mi |
| GIN WANG MD, PLLC Oklahoma City · 2 employees | $808K | 1.0 mi |
| BRUCE SOUTH & ASSOCIATES,LLC Edmond · 1 employees | $469K | 1.4 mi |
The full calculation
| Employees reported to the SBA | 19 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $6.0M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $8.4M |
| Estimate: the two combined (geometric mean) | $8.1M |
| EBITDA margin (industry, adjusted for size) | 14% |
| EBITDA = revenue × margin | $1.2M |
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 | $5.3M |
| Multiple for this size and industry | 4.5× |
| Value range | $2.8M – $7.2M |
| Revenue range | $5.3M – $9.3M |
| EBITDA range | $769K – $1.3M |
| Industry (NAICS) | Custom Computer Programming Services (541511) |
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
- TETammy EngelSigned for the company · 2024 retirement-plan filing (Form 5500)
Advisors
- BankingBank of CommercePPP / 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
| Bank of Commerce PPP 2020 | All 308 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/8/2020 | first | $393K | 19 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Phase 2 Development LLC
Phase 2 Development LLC is an it & software company in Oklahoma City, Oklahoma, in business since 1999. It is owned by Mark Towler (Founder & Chairman). Its estimated annual revenue is about $8.1M, with roughly $1.2M of EBITDA. It has about 70 employees. Its estimated business value is $5.3M (likely range $2.8M–$7.2M).
Common questions
- Who owns Phase 2 Development LLC?
- Phase 2 Development LLC is owned by Mark Towler (Founder & Chairman), according to public sources such as the company's website or filings.
- How much revenue does Phase 2 Development LLC make?
- SeeBITDA estimates Phase 2 Development LLC's annual revenue at about $8.1M (likely between $5.3M and $9.3M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Phase 2 Development LLC worth?
- About $5.3M, roughly 4.5× its estimated EBITDA of $1.2M, typical for a it & software company its size. Likely range: $2.8M–$7.2M.
- How many employees does Phase 2 Development LLC have?
- About 70, from its 2025 retirement-plan filing.
- When was Phase 2 Development LLC founded?
- Phase 2 Development LLC has been in business since 1999.
- Is Phase 2 Development LLC for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 27 years (since 1999); founder still runs it after 27 years.