News

Evanston, IL – February 12, 2026 — Silver Oak Services Partners, LLC (“Silver Oak”), a lower-middle market private equity firm focused exclusively on business, healthcare and consumer services companies, announced that it has completed the sale of its portfolio company Keystone Partners (“Keystone” or the “Company”) to Careerminds.

 

Founded in 1982 and headquartered in Boston, MA, Keystone is a leading provider of comprehensive outplacement, career management, executive coaching, leadership development and coaching certification services.   The Company’s talent management services are tailored to meet the needs of all employees, from entry-level to senior executives, throughout the United States.  

 

Silver Oak made its original investment in Keystone in December 2018.  During Silver Oak’s ownership, Keystone completed numerous strategic investments to strengthen and grow the business, including acquiring and integrating five add-on acquisitions, expanding the footprint and service offering, bolstering the senior management team and building a scalable, proprietary technology platform.

 

“We are extremely proud of our partnership with the Keystone management team and the growth we were able to accomplish,” said Andrew Gustafson, Partner at Silver Oak.  “Management transformed Keystone over our hold period through a series of strategic acquisitions and significant investments in the team and infrastructure.  Keystone is well positioned for continued success, and we wish the team well in their new partnership with Careerminds.”

 

Tim Baldwin, former Keystone CEO, noted, “Our collaboration with Silver Oak has been instrumental in helping Keystone develop into a leading national provider of talent solutions delivered with empathy and supported by leading edge technology.  In partnering with Careerminds, the Keystone team is excited to continue our mission of helping organizations achieve success by realizing the full potential of their people.”

 

Deloitte Corporate Finance LLC and Troutman Pepper Locke acted as financial advisor and legal counsel to the sellers, respectively.

 

About Silver Oak Services Partners

 

Founded in 2005 and based in Evanston, IL, Silver Oak Services Partners (www.silveroaksp.com) is a lower-middle market private equity firm focused on partnering with exceptional management teams to build industry leading business, consumer and healthcare service companies.  Silver Oak utilizes a proactive, research-led investment process to identify attractive services sectors and seek out the best potential management teams and investment opportunities.  Silver Oak seeks to make control investments in leading service businesses with $15 to $150 million in revenue. The firm is currently investing out of its fourth fund, a $500 million investment vehicle.