I still can't tell whether you're being cynical or not. These businesses are mostly going to just shutter if PE doesn't take over. The ones left to a family mem

I still can't tell whether you're being cynical or not. These businesses are mostly going to just shutter if PE doesn't take over. The ones left to a family member aren't necessarily going to do well for that succession either: that bequest can be an act of love more than business smarts. Furthermore, just because there may be important subtleties about which vendors to use, branding, and service processes that are vital to how things work, it does not mean that the prior owners were at all savvy about the nuts and bolts of modern financial products, and could have really been held back by traditional banks preying on that ignorance and ensnaring them in less than ideal solutions. The important cog in this wheel is the one you haven't touched on, namely, that president Teamshares installs - wish they'd explain more about that. Teamshares' investors aren't stupid. They know very well the risk on their money if the company comes in like a bull in a china shop, quickly destroying the businesses it buys. There aren't going to be consolidation options and economies of scale like you see with medical practices - each of these mom 'n pop shops are somewhat special snowflakes.