Specific Systems, LLC
How we got $20.2M
Based on its 73 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 52 years (since 1974)
From public records and the company's website, not a statement that it's for sale.
What they do
Specific Systems, LLC of Tulsa, OK designs and manufactures built-to-order industrial HVAC, explosion proof and severe duty air conditioning and pressurization systems for hazardous and harsh industrial environments.
From the company's website. Industry: Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing.
Customers & suppliers
Customers
- Integrated Drive Systems · named on its website
Suppliers & brands
- Bard · brand it sells or installs
- ABB Baldor · brand it sells or installs
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- ONEOK, Inc. · Tulsa, 3 mi · $33.63B
- Helmerich & Payne · Tulsa, 3 mi · $3.75B
- EXPLORER PIPELINE COMPANY · Tulsa, 4 mi · $619.2M
- MID-CON ENERGY OPERATING, LLC · Tulsa, 3 mi · $467.9M
- SAMSON RESOURCES II OPCO, LLC · Tulsa, 3 mi · $326.8M
- HODGES TRANSPORTATION INC · Tulsa, 8 mi · $11.4M
- EL ARCO INC · Tulsa, 7 mi · $4.1M
- ARLAN RECEIVING DELIVERY AND STORAGE, INC. · Tulsa, 8 mi · $2.0M
- United Warehouse · Tulsa, 10 mi · $1.7M
- United Cold Storage · Tulsa, 7 mi · $1.7M
Estimated value over time
▲ 59% 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
▼ 3% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 73 | $21.4M |
| 2020 | Form 5500 | 62 | $18.2M |
| 2021 | Form 5500 | 60 | $17.6M |
| 2022 | Form 5500 | 71 | $20.9M |
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 |
|---|---|---|
| SPECIFIC SYSTEMS, LLC this business | $33.5M | — |
| LIMCO AIREPAIR INC Tulsa · 170 employees | $68.2M | 1.4 mi |
| FIRSTLINE FILTERS, LLC Tulsa · 16 employees | $3.6M | 1.8 mi |
| Aaon, Inc. Tulsa | $1.44B | 2.0 mi |
| AAON, Inc. Tulsa | $1.3M | 2.1 mi |
| TULSA HEATERS, INC. Tulsa · 45 employees | $30.5M | 2.7 mi |
| HEATER FABRICTORS OF TULSA, LLC Tulsa · 157 employees | $76.2M | 3.3 mi |
The full calculation
| Employees reported to the SBA | 73 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $25.7M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $33.6M |
| Estimate: the two combined (geometric mean) | $33.5M |
| EBITDA margin (industry, adjusted for size) | 10% |
| EBITDA = revenue × margin | $3.5M |
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 | $20.2M |
| Multiple for this size and industry | 5.8× |
| Value range | $10.6M – $27.7M |
| Revenue range | $22.0M – $38.2M |
| EBITDA range | $2.3M – $4.0M |
| Industry (NAICS) | Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415) |
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
“Since 1974, Specific Systems® has shipped thousands of special purpose air-conditioning, heating, ventilating and pressurization systems with a commitment to reliability, service and design excellence.”
Advisors
- BankingProsperity 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
| Prosperity Bank PPP 2020, PPP 2021 | All 748 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/12/2020 | first | $1.1M | 73 |
| 2/27/2021 | second | $915K | 68 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Specific Systems, LLC
Specific Systems, LLC is an air-conditioning and warm air heating equipment and commercial and industrial refrigeration equipment manufacturing company in Tulsa, Oklahoma, in business since 1974. Its estimated annual revenue is about $33.5M, with roughly $3.5M of EBITDA. It has about 71 employees. Its estimated business value is $20.2M (likely range $10.6M–$27.7M).
Common questions
- Who owns Specific Systems, LLC?
- The owner of Specific Systems, LLC 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 Specific Systems, LLC make?
- SeeBITDA estimates Specific Systems, LLC's annual revenue at about $33.5M (likely between $22.0M and $38.2M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Specific Systems, LLC worth?
- About $20.2M, roughly 5.8× its estimated EBITDA of $3.5M, typical for a air-conditioning and warm air heating equipment and commercial and industrial refrigeration equipment manufacturing company its size. Likely range: $10.6M–$27.7M.
- How many employees does Specific Systems, LLC have?
- About 71, from its 2022 retirement-plan filing.
- When was Specific Systems, LLC founded?
- Specific Systems, LLC has been in business since 1974.