Teleo Capital Buys Rand McNally
October 26, 2020
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
"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
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.