Teamshares (TMS)

Acquires established, owner-operated small and medium-sized businesses from retiring owners, installs successor presidents, and keeps their operating results within a single SME segment. Operating companies sell food, apparel, building materials, distribution, maintenance, repair, and professional services across mainly U.S. locales, with a smaller international presence.

Centralizes sourcing, underwriting, finance, software, and shared services while local leaders run day-to-day operations. Revenue is primarily product sales and service revenue from operating companies rather than management fees; excess cash moves to the parent for acquisitions, debt service, and infrastructure. The model depends on acquisition financing, repeated sourcing and integration, and the ability to transfer operating-company equity to employees over time. The holding-company structure faces potential classification under the Investment Company Act.