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Boise, ID – (April 12, 2022) TELEO Capital Management, LLC (“TELEO”) announced the acquisition of Fleetsu Pty Ltd. (“Fleetsu”) 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).

“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.”

“Fleetsu has quickly built a reputation grounded in being hyper-focused on meeting the needs of our customers, no matter how complex,” said Jakub Felinski, Fleetsu's founder and newly appointed Chief Innovation Officer of 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,”said 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.”

About Fleetsu

Fleetsu’s innovative and flexible platform transforms fleet management by enabling businesses to instantly collect and analyze fleet data. Their proprietary data analytics platform enables seamless integration with third-party data sources and can be deployed as an aftermarket product to a fleet of vehicles or as a solution embedded in the vehicle by an OEM. Fleetsu currently serves customers across the globe, including a partnership with Toyota Motor Corporation, Australia. Other Fleetsu customers include Avis, Budget, and Cummins. Fleetsu is based in Perth, Australia.

For additional information, please visit

About Rand McNally

Rand McNally has been transforming travel and transportation for over 165 years. Today, Rand McNally provides innovative fleet management and commercial transportation solutions, connected vehicle technology, and consumer travel and education products. Rand McNally is based in Chicago, IL.

For additional information, please visit

About TELEO Capital Management

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. TELEO brings a successful track record of executing corporate carve-outs, recapitalizing broken balance sheets, acquiring founder-owned companies, and implementing buy and build strategies for its portfolio companies. TELEO targets opportunities in the technology & software, healthcare IT, business services and industrial sectors. The firm is headquartered in Boise, ID with an additional office in Los Angeles, CA.

For additional information, please contact Matt Oehlmann at or visit our website at

The firm is headquartered in Boise, ID. For additional information, please visit or contact Matt Oehlmann at