Submersible Pumps Inc.
How we got $21.9M
Based on its 65 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 34 years (since 1992)
- Headcount down 32% since 2023 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
What they do
Submersible Pumps Inc. (SPI Pumps) provides electrical submersible pumps and artificial lift services, and says it has done so for more than 30 years. It also sells remanufactured beam pumping units and, since acquiring Black Arrow Solutions in January 2020, offers sucker rod pumping services.
From the company's website. Industry: Measuring, Dispensing, and Other Pumping Equipment Manufacturing.
Estimated value over time
▲ 18% 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
▼ 20% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 65 | $34.7M |
| 2020 | Form 5500 | 58 | $30.9M |
| 2021 | Form 5500 | 55 | $29.3M |
| 2022 | Form 5500 | 65 | $34.7M |
| 2023 | Form 5500 | 77 | $41.1M |
| 2024 | Form 5500 | 54 | $28.8M |
| 2025 | Form 5500 | 52 | $27.7M |
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 |
|---|---|---|
| SUBMERSIBLE PUMPS INC. this business | $36.2M | — |
| HUNT'S WELDING SERVICE, L.L.C. Cushing · 2 employees | $939K | 5.8 mi |
| OVERBILT TRAILER COMPANY Drumright · 23 employees | $9.1M | 8.6 mi |
| MAYOCO MFG LLC Drumright · 6 employees | $3.5M | 11.0 mi |
| ALLAN BAUGHS WELDING AND ROUSTABOUT INC Drumright · 2 employees | $868K | 12.8 mi |
| CAMPBELL FABRICATION & TOOLING, INC. Stroud · 8 employees | $3.9M | 16.5 mi |
| WALKER WELDING, L.L.C. Stillwater · 9 employees | $3.1M | 17.8 mi |
The full calculation
| Employees reported to the SBA | 65 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $33.4M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $30.2M |
| Estimate: the two combined (geometric mean) | $36.2M |
| EBITDA margin (industry, adjusted for size) | 10% |
| EBITDA = revenue × margin | $3.8M |
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 | $21.9M |
| Multiple for this size and industry | 5.8× |
| Value range | $11.5M – $29.9M |
| Revenue range | $23.8M – $41.3M |
| EBITDA range | $2.5M – $4.3M |
| Industry (NAICS) | Measuring, Dispensing, and Other Pumping Equipment Manufacturing (333914) |
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
People & advisors
Advisors
- BankingCommunity National Bank & TrustPPP / 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
| Community National Bank & Trust PPP 2020, PPP 2021 | All 49 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/4/2020 | first | $686K | 65 |
| 2/18/2021 | second | $745K | 65 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Submersible Pumps Inc.
Submersible Pumps Inc. is a measuring, dispensing, and other pumping equipment manufacturing company in Cushing, Oklahoma, in business since 1992. Its estimated annual revenue is about $36.2M, with roughly $3.8M of EBITDA. It has about 52 employees. Its estimated business value is $21.9M (likely range $11.5M–$29.9M).
Common questions
- Who owns Submersible Pumps Inc.?
- The owner of Submersible Pumps Inc. 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 Submersible Pumps Inc. make?
- SeeBITDA estimates Submersible Pumps Inc.'s annual revenue at about $36.2M (likely between $23.8M and $41.3M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Submersible Pumps Inc. worth?
- About $21.9M, roughly 5.8× its estimated EBITDA of $3.8M, typical for a measuring, dispensing, and other pumping equipment manufacturing company its size. Likely range: $11.5M–$29.9M.
- How many employees does Submersible Pumps Inc. have?
- About 52, from its 2025 retirement-plan filing.
- When was Submersible Pumps Inc. founded?
- Submersible Pumps Inc. has been in business since 1992.