Dallas–Fort Worth · Valuation
Who can sell a Dallas company with $2 million in EBITDA?
What a $2 million EBITDA Dallas company may be worth, who buys at that size, and how to judge the firm that sells it.
By Michael D. Rubin, CEO & Founder · September 2026 · 876 words
A sell-side M&A advisor that works in the lower middle market, rather than a main-street business broker or a large investment bank, is the right fit for a Dallas company earning $2 million in EBITDA. MDR & Associates, based in Frisco, is one DFW firm built for exactly that size of company. EBITDA means earnings before interest, taxes, depreciation and amortization, a common way to measure the cash profit a buyer is paying for.
At $2 million, your company sits in a band where the choice of advisor changes both the buyers you meet and the price you are offered. This answer covers what a company at that level may be worth, who buys it, and how to judge any firm that offers to sell it.
What a $2 million EBITDA company may be worth
Buyers price most private companies as a multiple of adjusted EBITDA. Adjusted means the reported profit is recast: the owner's above-market salary, one-time legal bills, personal expenses run through the company and similar items are added back, so the buyer sees what the business earns under normal ownership. For a business in the $3 million to $100 million revenue range, MDR most often sees prices of three to seven times adjusted EBITDA.
As an illustration only, here is the arithmetic at the low, middle and high points of that range. The figures are enterprise value, before paying off debt and before transaction costs and taxes, so they are not the check you take home.
| Adjusted EBITDA | Multiple | Illustrative value |
|---|---|---|
| $2 million | 3x | $6 million |
| $2 million | 5x | $10 million |
| $2 million | 7x | $14 million |
What moves a company from three times toward seven times
That is a wide spread, and no honest advisor can tell you where you land before reviewing your books. These are the factors that decide it. The deeper explanation is in what is my business worth.
- Owner dependence. If customers, pricing and key decisions all run through you, buyers discount for the risk that value walks out the door with you.
- Customer concentration. One customer providing a large share of revenue narrows the buyer pool and lowers the multiple.
- Recurring or repeat revenue. Service agreements, contracts and repeat customers are worth more than one-time project work.
- Clean, reconciled records. Two to three years of financials that tie to tax returns make the adjusted EBITDA believable.
- Growth and margins. A steady upward trend, with margins at or above similar companies, supports the upper end.
- A management layer. A general manager or operations lead who stays on makes the company easier to finance and to own.
Who buys a Dallas company at this size
At $2 million in EBITDA your company can draw several kinds of buyer at once, and that is exactly what creates competition. Well-funded individual buyers, often using bank or SBA-backed financing, look for companies they can run themselves. Capital groups and family offices look for steady cash flow. Private equity groups look for either a platform, meaning a first acquisition in an industry, or an add-on to a company they already own. Larger competitors, called strategic buyers, look for customers, crews or territory in North Texas.
Dallas-Fort Worth helps. National and private equity buyers actively look for Texas companies, and a DFW headquarters with a trained workforce is easy for them to understand. The work is getting all of those buyer types to the table at the same time, without the local market hearing about it.
How to judge any firm that offers to sell it
Whoever you talk to, including us, ask for specifics. The differences between a broker, an M&A advisor and an investment banker are laid out in this comparison.
- Does the firm represent only the seller in your transaction, or does it also take fees from buyers?
- How many companies of your size and industry has it closed, and can you see named examples?
- Will a senior principal sit in every negotiation, or will a junior associate handle it?
- How does it reach buyers: its own database of qualified buyers, or only public listings?
- How is it paid? Is there an upfront retainer, or is the fee earned only when the company sells?
- Will it tell you plainly if it does not think your company can sell at a price you would accept?
Where MDR & Associates fits
MDR & Associates has represented owners since 2008, with more than 250 closed transactions, about $500 million in total market value sold, a success rate above 90 percent and a 5.0-star rating from 43 Google reviews. We work with profitable Texas companies of $3 million to $100 million in revenue, and a $2 million EBITDA company sits squarely in that range. Our corporate office is in Frisco, and we meet Dallas owners at their office or somewhere discreet; see the Dallas page or reach the team through the Dallas contact page.
Our fee is 100 percent performance based: an industry-standard success fee only if and when the company sells, and nothing if it does not close. A principal of the firm sits in every negotiation. The first step is a free, confidential discovery meeting and an opinion of value. If you want a quick range before that conversation, start with the valuation snapshot.
Where this fitsDallas business brokers and M&A advisors →