PE-backed Rand McNally acquires Fleetsu

Rand McNally, which is backed by Teleo Capital, has acquired Fleetsu, an Australian connected vehicle platform. No financial terms were disclosed.

PRESS RELEASE

CHICAGO and PERTH, AUSTRALIA, April 12, 2022 – Rand McNally, in a transformational move to elevate its place in the connected vehicle space, has acquired Australia-based Fleetsu and its innovative, flexible platform. TELEO Capital, which purchased Rand McNally in Q4 2020, bought Fleetsu, combining the fleet organizations as part of its pledge to significantly increase its investment in best-in-class solutions for the transportation market.

The transaction brings together Rand McNally’s fleet business with Fleetsu’s platform, data, and analytics capabilities to create a global enterprise that will bring innovative solutions to vehicle fleets worldwide. Together, the new combined Rand McNally helps fleet operators maximize business productivity through access to real-time, on-the-road data, providing valuable insights that solve for today’s challenges like driver location and safety, engine performance, and vehicle efficiency (fossil and electric).

Although only seven years old, Fleetsu has secured a number of major global truck and automotive OEM contracts, including Toyota Motor Corporation, Australia, as its platform is viewed as a best-in-class vehicle and truck solution for OEMs as well as fleets.

“Rand McNally is committed to delivering innovative products and services that improve fleet and driver efficiency, safety, and security,” said 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.”

According to Allied Market Research, the global fleet management market is experiencing unprecedented growth with forecasts predicting the industry to more than double by 2030, reaching $52.5 billion in value. With growth happening across all sectors of the industry, but particularly in telematics and connectivity, the business climate is ideal for Rand McNally and Fleetsu coming together.