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Boise, ID – March 14, 2024 - TELEO Capital Management, LLC (“TELEO”) has announced the acquisition of the SafetyDirect ®  connectivity product line, portal, and operations ("SafetyDirect") from Bendix Commercial Vehicle Systems LLC (“Bendix”), by its existing portfolio company, Rand McNally.

An icon of travel and navigation for 168 years, Rand McNally’s acquisition of SafetyDirect enables it to roll out an enhanced, comprehensive fleet management solution that will appeal to a broader segment of the connected vehicle market.

The SafetyDirect solution, renowned for its onboard sensory hardware and software systems, is trusted by major vehicle manufacturers and trucking companies worldwide. In addition, the SafetyDirect team brings a wealth of expertise and innovation to Rand McNally, which will improve the company’s ability to bring new technology to market faster and with greater customer confidence.

"This acquisition is the next mile along our journey to provide a comprehensive fleet-management solution built with driver safety at its heart and over a century of experience in its rearview mirror," stated TELEO Capital. "Among the partners we considered to join the Rand McNally family, SafetyDirect stood out because its technology aligns very well with our vision for a platform designed to protect drivers first and achieve fleet management objectives in the process.”

The collaboration will result in an expanded suite of services that will offer real- time monitoring, predictive maintenance, route optimization, and compliance management, addressing the diverse and rapidly evolving needs of the transportation industry.

Bendix will provide marketing, data, and product integration support to Rand McNally, helping to enable a cohesive, coordinated approach for optimized customer solutions. Bendix will receive an equity stake (ownership position) in the Rand McNally/SafetyDirect operations and an observer seat on the Rand McNally Board of Directors.

Rand McNally will continue to offer integrated data from Bendix braking and driver assistance systems as part of SafetyDirect, further expanding sales opportunities with customers of both companies.

As a testament to TELEO’s commitment to strategic growth, this is the second acquisition by Rand McNally since its purchase by TELEO in Q4 2020. The first was Fleetsu, a provider of cloud-based data analytics for transportation, acquired by Rand McNally in Q2 2022.

About SafetyDirect ®

SafetyDirect ®  is a video-based driver safety platform featuring a web portal where fleets can access their driver performance information and event-based data – video, vehicle, and sensor information from a vehicle’s J1939 network. The data provides fleet operators with key insights into common driving behaviors and trends to help bolster their overall safety program.

For additional information, please visit

Bendix Commercial Vehicle Systems LLC

Bendix Commercial Vehicle Systems, a member of Knorr-Bremse, develops and supplies leading-edge active safety technologies, energy management solutions, and air brake charging and control systems and components under the Bendix® brand name for medium- and heavy-duty trucks, tractors, trailers, buses, and other commercial vehicles throughout North America. An industry pioneer employing more than 4,400 people, Bendix – and its wholly owned subsidiary, R.H. Sheppard Co. Inc. – is driven to deliver the best solutions for improved vehicle safety, performance, and overall operating cost.

For additional information, please visit

About Rand McNally

Rand McNally has been transforming travel and transportation for over 168 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