Live Oak Acquisition Corporation V has acquired Teamshares for $746,000,000. This corporate acquisition marks a significant change in ownership, with Live Oak taking control of a growing platform focused on small business continuity and employee ownership.
Teamshares, founded in 2019, operates a distinctive model as both a holding company and a fintech provider. It specializes in programmatically acquiring high-quality businesses with $0.5 to $5 million of EBITDA from retiring owners. A cornerstone of its approach is integrating these businesses onto its proprietary platform and facilitating employee stock ownership, aiming to create a permanent home for these entities. This model fosters a win-win for retiring owners, employees, and local economies. The company currently oversees a portfolio of subsidiaries with consolidated revenue exceeding $400 million, spanning over 40 industries and 30 states.
This acquisition is strategically aligned to accelerate Teamshares' unique mission while providing Live Oak Acquisition Corporation V with an established and scalable operating asset. The synergy is expected to enhance Teamshares’ capacity to expand its reach, acquire more small businesses, and further invest in its technology platform designed to support employee-owned enterprises. Live Oak gains a proven business model focused on generating value through a distributed network of acquired and managed companies.
It is important to note that this transaction constitutes an outright purchase of Teamshares, signifying a strategic change in corporate ownership rather than a funding round. The combined entity is poised to capitalize on Teamshares' established operational framework to scale its mission, facilitating more small business successions and broadening the scope of employee ownership across the United States.