SeeBITDAOklahoma

Process Manufacturing Co., Inc.

Oil and Gas Field Machinery and Equipment Manufacturing
Company websiteprocessmfg.comFind on LinkedInSearch LinkedIn for this company
Estimated valueMedium confidence
$82.9M
$43.6Mlikely range$113.4M
About 7.9× its yearly profit, typical for a company this size in its industry.
Revenue
$100.7M
a year
Profit (EBITDA)
$10.5M
10% of revenue
Employees
142
reported in 2020
Leadership
Chris Schutte
Owner · source · confirmed by 2 sources
Some signs of a sale
Has a management team. Someone besides the owner runs part of the business, which buyers pay more for.

How we got $82.9M

Based on its 142 employees and its payroll, both reported for PPP in 2020 and brought up to date.

142 employees × $747K each$106.1M
PPP payroll ÷ payroll's usual share of revenue$73.5M
Shown toward the top of its range×1.14
Revenue$100.7M
× 10% profit margin$10.5M
× 7.9 sale multiple = value$82.9M

· Own this business? Correct these figures

Estimated value over time

▼ 13% since 2020
$0$54.7M$109.5M2020202120222023202420252026

Today'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

▼ 87% since 2020
010020020202021202220232024202514219
401(k) / retirement-plan participantsEmployees reported for PPP
Show as table
YearSourceEmployeesEst. revenueEst. EBITDA
2020PPP loan142$79.2M$8.3M
2020Form 550044$24.5M$2.6M
2021Form 550046$25.7M$2.7M
2022Form 550042$23.4M$2.4M
2023Form 550034$19.0M$2.0M
2024Form 550024$13.4M$1.4M
2025Form 550019$10.6M$1.1M

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.

What we know

PPP loan, 2020
401(k) filing, 2025
No reported financials
Company website
Owner named
Trucking registration (FMCSA)

Signs of a sale Some signs of a sale

  • In business 51 years (since 1975)
  • Family in the business (Julie Schutte, Controller)
  • Headcount down 59% since 2021 (retirement plan filings)

From public records and the company's website, not a statement that it's for sale.

What they do

Process Manufacturing manufactures and assembles custom equipment for the oil and gas industry, including well-servicing, production and midstream equipment, and also offers fabrication, blasting and painting, and assembly services.

Products & services
FabricationBlasting & PaintingAssemblyCarbon Capture SystemsPressure vesselsPipe spoolsStructural steel skidsHeat exchangersControl consoles and junction boxesHydrostatic testingModular builds
Markets served
Oil and gasWell-Servicing & Pressure PumpingUpstream Production EquipmentMidstream Pipeline EquipmentData center modulesCarbon capture
Service area
Northeastern OklahomaSouthwest Region
Certifications
ASME Certification U, S, RISO CertificationASME stamps for U and R pressure vessel manufacturing and repairCAGE CODE: 3GQ14UEI: NSHZSL9KQ5F5

From the company's website. Industry: Oil and Gas Field Machinery and Equipment Manufacturing.

Customers & suppliers

Possible customers nearby

The largest businesses within about 60 miles in the markets its website says it serves.

Oil & gas

Compared with similar businesses nearby

BusinessEst. revenueEst. profitDistance
PROCESS MANUFACTURING CO., INC.
this business
$100.7M$10.5M—
SAWYER MANUFACTURING COMPANY
Tulsa · 51 employees
$46.2M$4.8M1.7 mi
BRONCO MANUFACTURING, LLC
Tulsa · 42 employees
$33.1M$3.4M2.0 mi
INDUSTRIAL FABRICATION SERVICES, LLC
Tulsa · 18 employees
$10.8M$1.2M2.6 mi
GASTECH ENGINEERING LLC
Sapulpa · 92 employees
$79.7M$8.3M3.8 mi
S&R Equipment
Tulsa
$3.0M$403K4.1 mi
B & J LAWN AND LANDSCAPE, LLC
Sapulpa · 4 employees
$3.9M$538K4.2 mi

The full calculation

Employees reported to the SBA142
Revenue from headcount (employees × revenue per employee for companies this size)$106.1M
Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size)$73.5M
Estimate: the two combined (geometric mean)$100.7M
EBITDA margin (industry, adjusted for size)10%
EBITDA = revenue × margin$10.5M

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$82.9M
Multiple for this size and industry7.9×
Value range$43.6M – $113.4M
Revenue range$66.3M – $114.8M
EBITDA range$6.9M – $12.0M
Industry (NAICS)Oil and Gas Field Machinery and Equipment Manufacturing (333132)

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

History & advisors

Founded 1975 by Frank Chrisco
“Founded in 1975 by Mr. Frank Chrisco, Process Manufacturing Company (Process) was a small machine shop consisting of just 4 employees in a 3,000 square foot facility in Tulsa, Oklahoma.”

Advisors

  • BankingGrand 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

Grand Bank
PPP 2020, PPP 2021
All 407 borrowers →

From PPP and SBA loan records, which name the bank but not the individual banker.

PPP loans

ApprovedDrawAmountForgivenJobsLender
4/4/2020first$1.5M$1.5M142Grand Bank
1/16/2021second$1.5M$1.5M130Grand Bank

Public records

DOT motor carrier
USDOT 869302
Trucks (power units)3
Drivers3
Miles (2023)40,000
Registered with DOT2000

Matched to this business by name and address from public government data; a match can occasionally be wrong.

About Process Manufacturing Co., Inc.

Process Manufacturing Co., Inc. is an oil and gas field machinery and equipment manufacturing company in Tulsa, Oklahoma, in business since 1975. It is owned by Chris Schutte. Its estimated annual revenue is about $100.7M, with roughly $10.5M of EBITDA. It has about 19 employees. Its estimated business value is $82.9M (likely range $43.6M–$113.4M).

Common questions

Who owns Process Manufacturing Co., Inc.?
Process Manufacturing Co., Inc. is owned by Chris Schutte, according to public sources such as the company's website or filings.
How much revenue does Process Manufacturing Co., Inc. make?
SeeBITDA estimates Process Manufacturing Co., Inc.'s annual revenue at about $100.7M (likely between $66.3M and $114.8M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
What is Process Manufacturing Co., Inc. worth?
About $82.9M, roughly 7.9× its estimated EBITDA of $10.5M, typical for a oil and gas field machinery and equipment manufacturing company its size. Likely range: $43.6M–$113.4M.
How many employees does Process Manufacturing Co., Inc. have?
About 19, from its 2025 retirement-plan filing.
When was Process Manufacturing Co., Inc. founded?
Process Manufacturing Co., Inc. has been in business since 1975.