TELEO Capital Management announced the acquisition of Fleetsu Pty Ltd. by its existing portfolio company, Rand McNally.
Fleetsu is a cloud-based, data analytics fleet management solution provider which enables customers to manage their fleets more efficiently and effectively.
The transaction brings together Rand McNally’s fleet business with Fleetsu’s platform, data and analytics capabilities. The newly combined businesses help fleet operators maximize business productivity through access to real-time, on-the-road data, providing valuable insights including driver location and safety, engine performance and vehicle efficiency (fossil and electric), the company says.
“Rand McNally is committed to delivering innovative products and services that improve fleet and driver efficiency, safety and security,” says Aaron Dannenbring, CEO of Rand McNally. “Fleetsu takes our existing expertise to the next level as we now offer the industry’s best connected fleet platform complementing our already robust hardware, navigation, logistics and publishing businesses. The combination of Rand McNally and Fleetsu creates a world-class connected vehicle powerhouse.”
“Fleetsu has quickly built a reputation grounded in being hyper-focused on meeting the needs of our customers, no matter how complex,” says Jakub Felinski, Fleetsu’s founder and newly appointed chief innovation officer, Rand McNally. “With Rand McNally’s strong navigation and transportation expertise and our already deep bench of leading engineers focused on creating technology data solutions, we are confident that we will be moving the industry forward. We look forward to expanding our combined global business that writes a new chapter for connected transportation, led by technology.”
“The acquisition of Fleetsu is an exciting step in Rand McNally’s transformation of its fleet and navigation product offerings,” says Joseph Roark, TELEO Capital Operating Partner and Rand McNally chairman.
“Fleetsu’s cutting edge platform, analytics and data capabilities will allow Rand McNally to offer a connected vehicle solution across the full fleet supply chain. The acquisition further expands Rand McNally’s footprint as a global provider to long-haul and local fleets, field service companies, government, auto and truck OEMs (both fuel and EV platforms) and vehicle rental fleets.”