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Teleo Capital Buys Rand McNally

October 26, 2020

TELEO Capital has completed acquisition of Rand McNally and named Joseph Roark Chairman of Rand McNally.

TELEO Capital is committed to investing in and growing Rand McNally's position in the commercial and industrial transportation technology market. Through its differentiated operational playbook, TELEO Capital has a strong track record of accelerating both organic and inorganic growth initiatives to build best-in-class companies.

Terms of the deal were not disclosed.

During the past 10 years, Rand McNally has expanded aggressively in the commercial transportation and logistics software space, becoming a leading technology company. Rand McNally provides an innovative, proprietary fleet management solution, and mileage and routing software to carriers, shippers and third-party logistics providers, complemented by a full suite of driver technologies that integrate seamlessly with its fleet management platform.

Rand McNally recently launched several innovative firsts in the retail marketplace, including OverDryve and TND dashboard tablets and ClearDryve 2-in-1 headset/headphones. Further, Rand McNally's robust new product roadmap will continue to set Rand McNally apart from competition with breakthrough technologies and best-in-class services and support.

"We are extremely excited to support the Rand McNally team through this next stage of growth," said Roark, an Operating Partner at TELEO Capital. "We fully intend to help grow Rand McNally through organic and acquisitive investment. Our focus will be on breakthrough products and solutions and first-class customer service."

Rand McNally will continue to operate out of its Chicago headquarters, with warehousing in Kentucky and several global sourcing and development operations.

With the sale process in the rearview mirror, Rand McNally is already ramping up its technology roadmap. On the day of the sale closing, the new Chairman, Joseph Roark, was in the Chicago office, diving into a full 3-year product plan with Rand McNally engineers and managers,

The commitment by new ownership ensures that Rand McNally will continue the trajectory it put in place a decade ago.

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