From Boise, Idaho, comes the announcement from US-based private equity firm Teleo Capital, that the Perth-based fleet tech company Fleetsu has been acquired by one of its portfolio companies, Rand McNally.
Established by Jakub Falinksi in 2016, and backed by members of the Perth Angels, Fleetsu is a cloud-based, data analytics fleet management solution provider which enables customers to manage their fleets more efficiently and effectively.
Speaking to Startup News from Idaho, Jakub told us this was a “big deal” and gave a “direct path to the multi-billion dollar American market.”
“Fleetsu has been incredibly busy getting Toyota up and running and a number of other deals,” said Jakub, “We’re now focussed on expanding our national and international footprint.”
Although the final deal number cannot be divulged, Jakub did say that “all shareholders are delighted with the outcome.”
Fleetsu was backed by the Perth Angels, and was championed by Graham Griffiths, who sadly passed away in 2019. We believe this is one of the first major exits for the Angels, so congratulations to them.
The transaction brings together Rand McNally’s fleet business with Fleetsu’s platform, data, and analytics capabilities. The newly combined businesses look to 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.”
Jakub Felinski, Fleetsu founder
“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.”
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For more www.fleetsu.com.
