S & W Tractor Co was formed by Leighton Smith, a former Ford tractor dealer. The firm opened for business in the building that was formerly a Massey Ferguson dealership at the intersection of Interstate 35 and U.S. Hwy 82 in Gainesville, Texas on April 1, 1969. Harvey Watson, a farmer and cattleman was his partner. From the beginning they wanted to carry the quality equipment their customers wanted. If a line of equipment didn't meet their expectations, they sent them back and obtained a better line. They operated together for 10 years. In 1977 Mr. Watson died unexpectedly.
Since 1987 Leighton Smith has operated S & W Tractor as sole owner. In 2005 the property at I-35 and Highway 82 was sold and the business was relocated to 3700 F M 902 in a rural setting near Lake Kiowa. This part of the country is called the cross timbers and is well known for the outstanding scenery.