TELEO CAPITAL PORTFOLIO COMPANY, RAND MCNALLY, ACQUIRES SAFETYDIRECT FROM BENDIX CVS
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.
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 www.randmcnally.com.
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 bendix.com.
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 www.randmcnally.com.
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 moehlmann@teleocapital.com or visit our website at www.teleocapital.com