Realized Investments
Onward.
Even though we have moved on from some of our investments, these remain projects we are proud to have been a part of. The realized investments below represent companies whose growth we were able to accelerate and build upon, eventually reaching a whole new level of value, size and maturity.
Reliable Industrial Group (RIG)
After a minor investment was heading in a poor direction, Lakeside offered to step in and actively manage the business. This has resulted in the asset becoming a market leader, adding a national partnership with Exxon Mobil that continues today.
The Story
Reliable Industrial Group started as small company called “PetrolinkUSA.” Lakeside Capital was a minority investor, and the company was struggling to turn a profit.
- A Challenging Start: After Petrolink posted losses of more than $1mm for 2010 and 2011, Lakeside offered to take over operations in 2012
- Lakeside Steps Up: With process improvements and new leadership from Lakeside, PetrolinkUSA turned a profit in it’s first year under Lakeside management and continues to grow and produce strong returns.
- Accelerating Growth: Once operations were streamlined, Lakeside focused on accelerating growth. In 2018, the company had gotten large enough to acquire two competitors Cogen Cleaning Technologies & Energy Services International to form Reliable Industrial Group and solidify it’s position as a market leader.
- National Presence: In 2019, RIG entered into a long-term contract with ExxonMobil to be the exclusive provider of reliability and pre-commissioning services for its Mobil Serv network of distributors and end-users, solidifying RIG as the provider of choice for many plants across the United States.
- Realized Value: In 2022, Lakeside sold RIG to Blue Wolf Performance Solutions, capping a decade of transformation with a highly valuable sale of an established market leader.