Born, Inc
How we got $12.8M
Based on 43 employees on its 2024 401(k) filing.
What we know
Signs of a sale High sell likelihood
- In business 109 years (since 1917)
- Founder still runs it after 109 years
- No family successor named on its website
- Headcount down 45% since 2020 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
What they do
BORN, Inc. is a Tulsa, Oklahoma company that engineers, manufactures, inspects, installs and commissions direct fired process heaters and furnaces, plus associated plant and equipment, for the petro-chemical industry.
From the company's website. Industry: Power Boiler and Heat Exchanger Manufacturing.
Customers & suppliers
Suppliers & brands
- Haldor Topsoe · brand it sells or installs
Estimated value over time
▲ 123% 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
▲ 79% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 24 | $10.2M |
| 2020 | Form 5500 | 78 | $33.1M |
| 2021 | Form 5500 | 51 | $21.6M |
| 2022 | Form 5500 | 57 | $24.2M |
| 2023 | Form 5500 | 43 | $18.2M |
| 2024 | Form 5500 | 43 | $18.2M |
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 |
|---|---|---|
| BORN, INC this business | $20.7M | — |
| TEK-FINS, INCORPORATED Tulsa · 80 employees | $60.7M | 3.4 mi |
| ECONOMASTERS, LLC Tulsa · 28 employees | $12.5M | 3.6 mi |
| SANDS WELD AND FAB INC. Tulsa · 10 employees | $3.0M | 4.0 mi |
| 3-D MANUFACTURING, INC Sapulpa · 11 employees | $3.3M | 4.2 mi |
| OGI PROCESS EQUIPMENT INC. Sand Springs · 71 employees | $27.0M | 4.3 mi |
| THE WHITE GROUP INC Tulsa · 1 employees | $418K | 4.6 mi |
The full calculation
Brought up to date: prices are 10% higher than in the benchmark's year, both included above.
| Estimated value = EBITDA × typical sale multiple | $12.8M |
| Multiple for this size and industry | 5.8× |
| Value range | $8.2M – $23.0M |
| Employees in its retirement plan (2024 Form 5500) | 43 |
| Industry revenue per employee | $424K |
| Revenue = employees × revenue per employee | $20.7M |
| EBITDA margin (industry, adjusted for size) | 11% |
| EBITDA = revenue × margin | $2.2M |
| For comparison: employees reported for PPP (2020) | 24 |
Uses the newest headcount we have: participants in the company's retirement plan from its Form 5500 filing with the Department of Labor. Plans can leave out part-timers and new hires, so the range leans higher than the estimate.
| Revenue range | $16.5M – $31.0M |
| EBITDA range | $1.8M – $3.3M |
| Industry (NAICS) | Power Boiler and Heat Exchanger Manufacturing (332410) |
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. These are statistical estimates, not reported financials. Full methodology
People & advisors
“Founded in 1917, Born is the world's leading authority in fired heater technology.”
Advisors
- BankingArvest 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
| Arvest Bank PPP 2020, PPP 2021 | All 5,114 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/6/2020 | first | $430K | 24 |
| 2/6/2021 | second | $430K | 24 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Born, Inc
Born, Inc is a power boiler and heat exchanger manufacturing company in Tulsa, Oklahoma, in business since 1917. It is owned by Dr. Sidney Born Jr. (CEO). Its estimated annual revenue is about $20.7M, with roughly $2.2M of EBITDA. It has about 43 employees. Its estimated business value is $12.8M (likely range $8.2M–$23.0M).
Common questions
- Who owns Born, Inc?
- Born, Inc is owned by Dr. Sidney Born Jr. (CEO), according to public sources such as the company's website or filings.
- How much revenue does Born, Inc make?
- SeeBITDA estimates Born, Inc's annual revenue at about $20.7M (likely between $16.5M and $31.0M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Born, Inc worth?
- About $12.8M, roughly 5.8× its estimated EBITDA of $2.2M, typical for a power boiler and heat exchanger manufacturing company its size. Likely range: $8.2M–$23.0M.
- How many employees does Born, Inc have?
- About 43, from its 2024 retirement-plan filing.
- When was Born, Inc founded?
- Born, Inc has been in business since 1917.
- Is Born, Inc for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 109 years (since 1917); founder still runs it after 109 years; no family successor named on its website.