Southwest Electric Co.
How we got $44.9M
Based on 196 employees on its 2024 401(k) filing.
What we know
Signs of a sale Unlikely to sell soon
- In business 80 years (since 1946)
- Headcount down 56% since 2023 (retirement plan filings)
- Acquired by SGB-SMIT (2025)
From public records and the company's website, not a statement that it's for sale.
What they do
Southwest Electric Co. provides transformers, switchgear, industrial motors and field services for industrial and utility customers. It now operates as SGB-SMIT USA after joining the SGB-SMIT Group in 2025.
From the company's website. Industry: Power, Distribution, and Specialty Transformer Manufacturing.
Ownership & transactions
- Acquired by SGB-SMIT · Jan 2025SGB-SMIT announced its acquisition of Southwest Electric Co., with closing expected in early 2025 and completion reported in March 2025.Source
Customers & suppliers
Suppliers & brands
- TECO-Westinghouse · brand it sells or installs
- GE · brand it sells or installs
- SGB-SMIT · brand it sells or installs
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- GULFPORT ENERGY CORPORATION · Oklahoma City, 17 mi · $1.42B
- MACH RESOURCES LLC · Oklahoma City, 18 mi · $1.18B
- T/J INSPECTION, INC. · Del City, 4 mi · $532.1M
- CROWN ENERGY COMPANY · Oklahoma City, 10 mi · $476.0M
- CIRCLE 9 RESOURCES LLC · Oklahoma City, 7 mi · $431.9M
Estimated value over time
▲ 9% 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
▼ 12% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 223 | $88.8M |
| 2020 | Form 5500 | 163 | $64.9M |
| 2021 | Form 5500 | 178 | $70.9M |
| 2022 | Form 5500 | 185 | $73.7M |
| 2023 | Form 5500 | 449 | $178.8M |
| 2024 | Form 5500 | 196 | $78.1M |
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.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| SOUTHWEST ELECTRIC CO. this business | $74.0M | — |
| EVANS ENTERPRISES, INC. Norman · 305 employees | $121.0M | 7.8 mi |
| ALL STATE ELECTRIC MOTORS Oklahoma City · 9 employees | $1.9M | 9.3 mi |
| BOOMER DIESEL GENERATOR LLC Oklahoma City · 7 employees | $1.6M | 11.0 mi |
| RIGID AUTOMATION Norman · 7 employees | $2.5M | 14.0 mi |
| BRANSON ELECTRIC LLC Maud · 1 employees | $855K | 34.0 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 | $44.9M |
| Multiple for this size and industry | 6.8× |
| Value range | $28.7M – $80.8M |
| Employees in its retirement plan (2024 Form 5500) | 196 |
| Industry revenue per employee | $398K |
| Revenue = employees × revenue per employee | $74.0M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $6.6M |
| For comparison: employees reported for PPP (2020) | 223 |
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 | $59.2M – $111.0M |
| EBITDA range | $5.3M – $9.9M |
| Industry (NAICS) | Power, Distribution, and Specialty Transformer Manufacturing (335311) |
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. These are statistical estimates, not reported financials. Full methodology
People & advisors
“In 1946, three determined and entrepreneurial brothers embarked on a new venture and opened an electric motor repair business in Oklahoma City, naming it Southwest Electric Company.”
Leadership
- EWElaine WilliamsLeadership Team · Company website · source
- RRRob RinkesLeadership Team · Company website · source
- MCMisty CappsLeadership Team · Company website · source
- AAAudai AbedLeadership Team · Company website · source
Advisors
- AccountingFinley & Cook, PLLCAudits its 401(k) plan (2024 filing)
- BankingJPMorgan Chase Bank, 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
| JPMorgan Chase Bank, National Association PPP 2020 | All 993 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/15/2020 | first | $3.5M | 223 |
2 locations
| 6503 SE 74th Street 0.0 | Oklahoma City | This listing |
| 1304 N 143rd E Ave | Tulsa | View |
Revenue, profit and value are for the whole company.
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Southwest Electric Co.
Southwest Electric Co. is a power, distribution, and specialty transformer manufacturing company in Oklahoma City, Oklahoma, in business since 1946. Its estimated annual revenue is about $74.0M, with roughly $6.6M of EBITDA. It has about 196 employees. Its estimated business value is $44.9M (likely range $28.7M–$80.8M). It has 2 locations.
Common questions
- Who owns Southwest Electric Co.?
- The owner of Southwest Electric Co. isn't in public records we've found yet. If you own or run the business, you can add or correct its details on SeeBITDA.
- How much revenue does Southwest Electric Co. make?
- SeeBITDA estimates Southwest Electric Co.'s annual revenue at about $74.0M (likely between $59.2M and $111.0M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Southwest Electric Co. worth?
- About $44.9M, roughly 6.8× its estimated EBITDA of $6.6M, typical for a power, distribution, and specialty transformer manufacturing company its size. Likely range: $28.7M–$80.8M.
- How many employees does Southwest Electric Co. have?
- About 196, from its 2024 retirement-plan filing.
- When was Southwest Electric Co. founded?
- Southwest Electric Co. has been in business since 1946.