Live Ventures Incorporated (Nasdaq: LIVE) (“Live Ventures”) is a growing, diversified holding company with a strategic focus on value-oriented acquisitions of domestic middle-market companies. Live Ventures’ acquisition strategy is sector agnostic and focuses on well-run, closely held businesses with a demonstrated track record of earnings growth and cash flow generation.
Live Ventures looks for opportunities to partner with the management teams of its acquired businesses to build increased shareholder value through a disciplined buy-build-hold long-term focused strategy. From the moment Live Ventures takes ownership, it looks for opportunities to invest in the acquired entity to drive growth and increase shareholder value.
Live Ventures was founded in 1968. In late 2011 Jon Isaac, CEO and strategic investor, joined the Board of Directors and later refocused it into a diversified holding company. Its current portfolio of diversified operating subsidiaries includes companies in the textile, flooring, tools, steel, entertainment, and financial services industries.
For the year ended September 30, 2022, revenues were $287 million and adjusted EBITDA was $38 million. As of September 30, 2022, the company had total assets of $279 million and shareholders’ equity of $97 million.
Key Investment Highlights
- Experienced acquirer and manager of middle-market companies
- Track record of growth and building shareholder value through excellence in operations and disciplined capital allocation
- Patient capital with a long-term investment focus
- Diversified capital allocation strategy
- Highly invested management team: Compensation structure aligned with shareholders
- Liquid alternative to investing in middle-market private equity
Acquisition Strategy
- Target companies with annual earnings between $5 and $50 million
- Closely held or family-founded businesses with a strong culture and management team that is looking to continue operating the business
- Companies with a defensible market position and track record of stable earnings and cash flow
- Companies in need of new ownership and outside capital to support growth, both organically and through acquisitions