TELEO Capital Management already accelerating investment
CHICAGO, Oct. 26, 2020 /PRNewswire/ -- 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,
"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," said Roark, an Operating Partner at TELEO Capital, which now owns Rand McNally.
On Friday, Rand McNally announced that TELEO Capital had completed acquisition of the 164-year-old company. In the announcement, Rand McNally noted that TELEO Capital has a strong track record of accelerating both organic and inorganic growth initiatives to build best-in-class companies.
The commitment by new ownership ensures that Rand McNally will continue the trajectory it put in place a decade ago.
During the past 10 years, Rand McNally has expanded aggressively in the commercial transportation and logistics software space, becoming a leading technology company. In that market, Rand McNally provides an innovative, proprietary fleet management platform as well as mileage and routing software used by carriers, shippers and third-party logistics providers.
At the same time, Rand McNally launched a number of innovative firsts in the retail marketplace (where it continues to produce and distribute printed atlases and other published product), including OverDryve™ and TND™ dashboard tablets and ClearDryve® 2-in-1 headsets that convert to headphones.
Rand McNally will continue to operate out of its Chicago headquarters, with warehousing in Kentucky and several global sourcing and development operations.
About TELEO Capital – TELEO Capital is a lower middle market private equity firm that looks to invest in opportunities where its strategic thought, operational resources and capital base empower management to perform and execute their business plan. With more than 75 years of collective private equity experience, we bring a successful track record of execution. TELEO Capital targets opportunities in the technology & software, healthcare IT, business services and industrial sectors. The firm is based in Boise, ID and Los Angeles, CA.
About Rand McNally – Chicago-based Rand McNally has been transforming travel and transportation for 164 years. Today, Rand McNally provides innovative fleet management and commercial transportation solutions, connected vehicle technology, and consumer travel and education products. Learn more at randmcnally.com and fleet.randmcnally.com
©2020 RM Technologies, Inc. d/b/a Rand McNally. All rights reserved.
Rand McNally the globe logo, OverDryve, TND, and ClearDryve are trademarks of RM Technologies, Inc. d/b/a Rand McNally.
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SOURCE Rand McNally