Teamshares to Go Public via Live Oak V Merger, Aiming to Revolutionize SME Acquisitions
Teamshares Inc., a tech-enabled acquirer of high-quality small-to-medium-sized enterprises (SMEs), has announced plans to go public through a merger with Live Oak Acquisition Corp. V (NASDAQ: LOKV), a publicly traded special purpose acquisition company (SPAC). The deal, valued at $746 million in enterprise value, is expected to accelerate Teamshares’ mission of becoming a permanent home for thousands of SMEs facing ownership transitions. The transaction will provide up to $333 million in primary proceeds, including a $126 million PIPE led by accounts advised by T. Rowe Price Investment Management, Inc., alongside contributions from other institutional investors and Live Oak V’s trust account.
Upon closing, the combined company will operate as “Teamshares Inc.” and trade on Nasdaq under the ticker “TMS.” The merger is anticipated to finalize in the second quarter of 2026, subject to regulatory approvals and customary closing conditions.
A Scalable Platform for SME Acquisitions
Teamshares operates as both a holding company and a fintech innovator, leveraging technology to acquire businesses with $0.5 million to $5 million in EBITDA. Its focus is on retiring business owners who face significant challenges when selling their companies, with nearly 70% of sales attempts failing due to a lack of buyers or family succession options. By stepping in as a buyer, Teamshares provides owners with an exit strategy while ensuring continuity for employees and growth opportunities for the acquired businesses.
Each acquisition is integrated into Teamshares’ centralized platform, which uses financial technology and artificial intelligence to drive efficiency across sourcing, underwriting, closing, and post-acquisition management. This streamlined approach allows Teamshares to scale rapidly, creating a compounding effect where each new acquisition enhances the platform’s data-driven capabilities. The company’s portfolio currently spans over 40 industries, 30 states, and generates consolidated revenue exceeding $400 million annually.
Employees also benefit from Teamshares’ model, as they are given opportunities to earn company stock, aligning their interests with long-term success. This unique structure fosters employee engagement and retention, further strengthening the acquired businesses.
Addressing a Growing Market Need
With approximately three million SME owners in the U.S. approaching retirement age, Teamshares sees a significant opportunity to address the growing demand for liquidity among this demographic. Many of these businesses have been operational for decades—Teamshares’ average acquisition involves a company that has been running for more than 35 years—and demonstrate resilience across economic cycles. These qualities make them attractive targets for sustainable growth under Teamshares’ ownership.
By combining centralized financial technology with decentralized leadership, Teamshares ensures that each subsidiary retains its entrepreneurial spirit while benefiting from shared resources and expertise. This hybrid model positions Teamshares as a market leader in SME acquisitions, capable of scaling efficiently and delivering predictable, repeatable growth.
Strategic Financing to Fuel Growth
The $126 million PIPE financing, anchored by T. Rowe Price-advised accounts, underscores strong institutional confidence in Teamshares’ vision. Existing investors, including prominent venture capital firms like Khosla Ventures, Union Square Ventures (USV), Collaborative Fund, and Spark Capital, are rolling 100% of their equity into the combined public company. This commitment highlights investor alignment with Teamshares’ long-term strategy.
Proceeds from the transaction will primarily fund future acquisitions, enabling Teamshares to expand its portfolio and solidify its position as a market-defining leader. With access to public capital markets, Teamshares can reinvest free cash flow from its subsidiaries into additional acquisitions, creating a compounding pathway for shareholder value.
Leadership Perspectives
Richard Hendrix, Chairman and CEO of Live Oak V, expressed enthusiasm about partnering with Teamshares, noting the company’s ability to lower costs and improve capital access as key advantages of going public. “The Teamshares business model allows them to reinvest free cash flow into attractively priced acquisitions, providing a long-term compounding pathway that we believe will create tremendous shareholder value,” he said.
Michael Brown, Co-founder and CEO of Teamshares, emphasized the importance of addressing the challenges faced by retiring SME owners. “With family succession becoming rarer and not enough buyers, retiring owners face a 70% failure rate when trying to sell. Teamshares is a scalable platform that helps owners retire, businesses grow, and employees earn stock. We aim to be the permanent home for thousands of high-quality businesses going through ownership transitions,” he stated.
About Teamshares
Teamshares is a tech-enabled acquiror of high-quality businesses, intending to be a permanent home for businesses. Part holdco, part fintech, Teamshares programmatically acquires companies with $0.5 to $5 million of EBITDA from retiring owners, integrates them with the Teamshares platform, and helps employees earn company stock. Founded in 2019, Teamshares operates subsidiaries with consolidated revenue of over $400 million across over 40 industries and 30 states.
About Live Oak Acquisition Corp. V
Live Oak Acquisition Corp. V (NASDAQ: LOKV) is the fifth SPAC sponsored by Live Oak Merchant Partners, an experienced team of operators and investors with a track record of successful public-market combinations. For more information, visit www.liveoakmp.com
