RLH Equity Partners Invests in Keystone Strategy LLC

Audax Private Equity Acquires Majority Stake in Keystone

January 15, 2026

Consulting

Audax Private Equity has acquired a majority stake in Keystone, purchasing the global technology and advisory services practice from RLH Equity Partners in a recapitalization that closed January 2, 2026. Concurrently, Keystone spun out its Core AI business as an independent B2B AI SaaS company (Keystone.AI) with RLH retaining a minority stake; Jeff Marowits was named CEO and Greg Richards will remain as a senior strategic advisor.

RLH Equity Partners Invests in Connors Group

March 9, 2023

Consulting

RLH Equity Partners has made a growth equity investment in Connors Group to accelerate the productivity consultancy's expansion and service capabilities. Connors Group, a provider of workforce management, operational excellence and systems implementation services to retail, distribution and healthcare clients, will use the capital to scale its footprint and continue product and service development.

Keystone Capital Makes Strategic Growth Investment in Inspire11

January 3, 2021

IT Services

Keystone Capital, Inc. completed a strategic growth investment in Inspire11, a digital transformation and technology innovation consultancy with offices in Chicago, Minneapolis, and Atlanta and offshore development centers in Macedonia and Kosovo. The minority investment will support Inspire11's growth initiatives, including internal scaling and potential complementary acquisitions; senior debt was provided by Wintrust Bank and terms were not disclosed.

LLR Partners Invests in Quantum Workplace

January 11, 2022

Cloud & SaaS

LLR Partners made a growth equity investment in Quantum Workplace to accelerate the employee experience platform’s product development, data science capabilities, and sales and marketing efforts while enabling strategic M&A. The capital will support expansion of Quantum Workplace’s SaaS platform and exploration of acquisition opportunities to scale its employee engagement and people analytics solutions.

RLH Equity Partners Invests in The Asia Group

December 11, 2024

Consulting

RLH Equity Partners has made a growth investment in The Asia Group (TAG), a Washington, D.C.-based geopolitical consulting firm that combines AI and human intelligence to advise corporations and investors operating across the Indo-Pacific. The partnership will support TAG's investments in talent, geographic expansion across Asia, and enhancement of its technology and functional capabilities.

RLH Equity Partners Invests in Astound Commerce

May 13, 2021

Marketing & Advertising

RLH Equity Partners has made a growth investment in Astound Commerce, a global provider of e-commerce and digital experience services. The investment will support Astound's continued expansion of its managed services and digital commerce capabilities across North America, Europe and the Middle East.