Teamshares IPO: $60M EBITDA, 92 Companies, Zero Exits

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Seven years after Slow wrote its first check, Sam sits down with Teamshares CEO Mike Brown as the company prepares to go public. Mike’s core insight is simple: America has millions of durable, cash-flowing small businesses, but no great long-term owner. After buying and operating electrical contractors himself, he realized the opportunity wasn’t another marketplace or PE roll-up, it was building a permanent holding company that acquires great businesses, gives employees ownership, and never sells. Today, Teamshares owns 92 businesses generating roughly $60M in EBITDA. The conversation explores why most roll-ups fail, why capital allocation is the true operating system of the business, and…