Founders Advises Rhino Fleet Tracking in Recapitalization with Accel-KKR

BIRMINGHAM, AL (January 30, 2020) – Founders is pleased to announce that Track What Matters, LLC, (TWM) d/b/a Rhino Fleet Tracking (Rhino) has been recapitalized by Accel-KKR, a leading Silicon Valley based technology-focused investment firm.  Rhino’s fleet tracking systems optimize fleet performance and ensure that business owners and managers know where their assets are and how they’re being used.  The investment by Accel-KKR will enable Rhino to accelerate growth both organically and through potential pursuit of additional add-on acquisitions.  Rhino was exclusively advised on the transaction by principals of Founders Advisors.

Founded in 2007 after recognizing a need in the market for an intuitive, easy to use tracking platform that would deliver actionable results, the company grew steadily in its early days.  Recently, as a result of increased focus on investment in the scalability of the platform and a clear product-market-fit, growth has greatly accelerated.  The company is well positioned for future performance while remaining focused on delivering outstanding value and service to its customers.  Rhino services customers in all 50 states and multiple countries across the globe from its headquarters in Argyle, TX.

“The outcome that Founders helped us realize met all the objectives of both Rhino’s early investors as well as the management team,” said Steven Van Ooyen, CEO of Rhino. “Accel-KKR brings the expertise and resources of one of the most reputable and capable private equity firms in the US.  These capabilities will help us achieve the lofty goals of our management team and employees.  We are thrilled to have provided, with Founders’ help, a solid exit for the initial investors who provided so much support for our business since its inception.”

“When we were introduced to the Rhino team and Board of Directors, it was clear that they were a sophisticated group who had built the company for long-term success,” said Zane Tarence, Managing Director of Founders Advisors.  “Rhino is getting a great partner with a proven track record in Accel-KKR, and Accel-KKR is getting an extremely strong management team we feel they’ll be thrilled to operate alongside.  We look forward to seeing the new heights that this partnership will be able to achieve.”

About Founders Advisors
Founders is a merger, acquisition, & strategic advisory firm serving middle-market companies. Founders’ focuses on helping Founder based companies across technology, business services, consumer, energy, healthcare, and industrial companies. Founders’ skilled professionals, proven expertise and process-based solutions help companies access growth capital, make acquisitions, and/or prepare for and execute liquidity events to achieve specific financial goals. In order to provide securities-related services discussed herein, c certain principals of Founders are licensed with Founders M&A Advisory, LLC, a member of FINRA & SiPC. Founders M&A Advisory is a wholly-owned subsidiary of Founders Advisors. For more information, please visit

About Rhino Fleet Tracking
Based in Argyle, Texas, Rhino Fleet Tracking provides intuitive fleet tracking service to all sizes of commercial business throughout the United States and abroad. Rhino Fleet Tracking’s services allow business fleets to capture very quick returns on investment through labor and fuel savings, gains in operational efficiency, and theft recovery. Service offerings include solutions for vehicle, trailer, and equipment tracking via cloud-based mobile and desktop applications.

About Accel-KKR
Accel-KKR is a technology-focused investment firm with over $9 billion in capital commitments. The firm focuses on software and IT-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. For more information, please visit