Realized Investments


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.

  1. A Challenging Start: After Petrolink posted losses of more than $1mm for 2010 and 2011, Lakeside offered to take over operations in 2012
  2. 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.
  3. 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.
  4. 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.
  5. 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.

Assessment Technologies Institute (ATI)

When John Hemmingson and Lakeside Capital Group invested in Assessment Technologies Institute (“ATI”) in 1999, the company was an entrepreneur’s vision and a paper-based diagnostic exam for nursing education. In less than a decade, Today, the organization continues to thrive while supporting nursing education across the country.

The Story

“It was just an enthusiastic founder with a paper exam,” Jason Bandy, a Lakeside partner, recalled. “But when a strong entrepreneur meets an entrepreneurial investor, great things can happen.”

  1. Assessment Technologies Institute (“ATI”) is a leader in testing and education for nursing educators and students
  2. John Hemmingson & Lakeside Capital Group invested in ATI in 1999 when the company only offered paper-based diagnostic exams.
  3. Over the next decade, Lakeside was able to help ATI expand from fewer than $100,000 in annual sales to more than $23 million
  4. Over that decade, ATI developed an industry-leading online education suite that supports nursing education across the country
  5. In 2008, Lakeside sold ATI to Ascend Learning, a portfolio company of Providence Equity Partners, for $220 million

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