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Logos of companies sold by MDR & Associates Proof 250+ closed transactions The companies we have taken to closing, grouped by industry and named. Open

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Closed transaction · October 2016

Lone Star State Cigar Co.

MDR & Associates took Lone Star State Cigar Co., a cigar retailer, through to closing in October 2016.

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Lone Star State Cigar Co. logo

The transaction

  • ClosedOctober 2016
  • SectorBusiness & consumer services
  • BuyerStrategic buyer
  • Engagement to closing30 days
  • Represented byMDR & Associates

The sale

How it ran

We sold Lone Star State Cigar Co. for the third time in nine years. Its owner, Cabe Chadick, has trusted the firm with five separate transactions.

When he decided to leave the cigar business and return to his career as an actuary, the sale went from listing to closing in under 30 days.

Our ultimate compliment is when a client comes back again and again for our services. Cabe Chadick is one of the finest men I've ever known.
Michael D. RubinFounder, MDR & Associates

Afterwards

In the owner's own words

MDR & Associates has been a great relationship for me as I have steered through more than one business buy/sell deal. They were able to find the right partner to my buy/sell needs and in an incredibly fast time frame. They get results and have Christ in their heart. It doesn’t get much better.
Cabe ChadickLone Star State Cigar Co.

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What decided the price

What buyers look at in a service business

Recurring and contracted revenue

The strongest single driver. Revenue under contract, on a schedule, or under a maintenance agreement is worth a multiple of the same revenue sold ad hoc.

Owner dependence

If customers buy because of you, the buyer is not buying a business. Reducing this is the highest-return work available before a sale.

Customer retention and length

Churn and average tenure tell a buyer what they are really acquiring. Have the numbers ready before they ask.

The full list, and who the buyers are: Selling a service business in Texas.

The record

More service businesses we have sold

Edward M. Polk AssociatesMay 2026North Texas SurveyingOctober 2025Party Time TexasFebruary 2025Bahr Consultants, Inc.September 2023The Kaufman AgencyOctober 2022Inland GeodeticsAugust 2022Massage HeightsFebruary and April 2022French PeasMarch 2022
Every closed transaction →

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