Modular Services Company
How we got $42.9M
Based on its 105 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 105 years (since 1921)
From public records and the company's website, not a statement that it's for sale.
What they do
Modular Services Company manufactures prefabricated healthcare products, ranging from headwalls and booms to complete patient room collections, for hospitals and healthcare facilities.
From the company's website. Industry: All Other Miscellaneous Fabricated Metal Product Manufacturing.
Estimated value over time
▲ 26% 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
▼ 10% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 105 | $31.1M |
| 2020 | Form 5500 | 89 | $26.4M |
| 2021 | Form 5500 | 90 | $26.7M |
| 2022 | Form 5500 | 92 | $27.3M |
| 2023 | Form 5500 | 87 | $25.8M |
| 2024 | Form 5500 | 96 | $28.4M |
| 2025 | Form 5500 | 94 | $27.8M |
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 |
|---|---|---|
| MODULAR SERVICES COMPANY this business | $59.2M | — |
| C&D VALVE, LLC Oklahoma City · 20 employees | $8.0M | 1.6 mi |
| MAKO PRODUCTS LLC Edmond · 14 employees | $6.8M | 3.5 mi |
| WARHALL DESIGNS LLC Edmond · 23 employees | $9.5M | 3.8 mi |
| FUNDOM ENTERPRISES INC Oklahoma City · 8 employees | $3.0M | 4.2 mi |
| QUARTER TURN ACTUATION LLC Oklahoma City · 5 employees | $2.9M | 4.8 mi |
| STEEL WELDING Oklahoma City · 1 employees | $645K | 5.5 mi |
The full calculation
| Employees reported to the SBA | 105 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $44.6M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $60.4M |
| Estimate: the two combined (geometric mean) | $59.2M |
| EBITDA margin (industry, adjusted for size) | 11% |
| EBITDA = revenue × margin | $6.3M |
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 | $42.9M |
| Multiple for this size and industry | 6.8× |
| Value range | $22.6M – $58.7M |
| Revenue range | $38.9M – $67.5M |
| EBITDA range | $4.1M – $7.2M |
| Industry (NAICS) | All Other Miscellaneous Fabricated Metal Product Manufacturing (332999) |
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. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
“Modular Services Company was founded as a family-owned commercial electrical contractor, originally named Gaddis Electric.”
Advisors
- AccountingArledge & Associates, PCAudits its 401(k) plan (2023 filing)
- BankingBancFirstPPP / 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
| BancFirst PPP 2020 | All 7,048 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/9/2020 | first | $1.5M | 105 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Modular Services Company
Modular Services Company is a family-owned all other miscellaneous fabricated metal product manufacturing company in Oklahoma City, Oklahoma, in business since 1921. It is owned by Thomas Walker. Its estimated annual revenue is about $59.2M, with roughly $6.3M of EBITDA. It has about 94 employees. Its estimated business value is $42.9M (likely range $22.6M–$58.7M).
Common questions
- Who owns Modular Services Company?
- Modular Services Company is owned by Thomas Walker, according to public sources such as the company's website or filings.
- How much revenue does Modular Services Company make?
- SeeBITDA estimates Modular Services Company's annual revenue at about $59.2M (likely between $38.9M and $67.5M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Modular Services Company worth?
- About $42.9M, roughly 6.8× its estimated EBITDA of $6.3M, typical for a all other miscellaneous fabricated metal product manufacturing company its size. Likely range: $22.6M–$58.7M.
- How many employees does Modular Services Company have?
- About 94, from its 2025 retirement-plan filing.
- When was Modular Services Company founded?
- Modular Services Company has been in business since 1921.