TELEO Capital Management already accelerating investment
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.
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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.
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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.
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