CHICAGO, Ill. – The private equity firm Teleo Capital has completed its acquisition of Rand McNally, and named Joseph Roark chairman.
“We are extremely excited to support the Rand McNally team through this next stage of growth,” Roark said in a statement issued Monday.
“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 is a 164-year-old company. During the past 10 years, it has expanded aggressively in the commercial transportation and logistics software space.
It provides a proprietary fleet management solution as well as mileage and routing software to carriers, shippers and third-party logistics providers.
It recently launched several products, including OverDryve and TND dashboard tablets and ClearDryve two-in-one headset/headphones.
Rand McNally will continue to operate out of its Chicago headquarters, the company said.
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