The Public Companies and Capital Markets team at Gowling WLG has advised Cenkos Securities (Cenkos), acting as nominated adviser, sole broker and sole bookrunner, on a conditional fundraising for AIM-quoted Journeo plc (Journeo), the information systems and transport technical services group. The fundraising is to primarily finance Journeo's acquisition of IGL Limited.

Journeo has conditionally raised gross proceeds of £7 million by way of a significantly oversubscribed placing and subscription. There will also be a separate conditional retail offer to existing shareholders via the Bookbuild platform to raise up to a further £0.35 million.

IGL Limited is a leading provider of innovative display solutions and is the UK's leading rail passenger information equipment provider, with over 15,000 displays in operation. Infotec services approximately 80 per cent of the UK's rail network and is one of the few UK display companies that designs, manufactures, tests and distributes its own products, which include rail information displays for main, hub and small stations. The acquisition is expected to be significantly earnings accretive to Journeo.

The Gowling WLG team included partner Samantha Myers, associate Helena David, and trainee Anna Samokhina.

Commenting on the transaction, Samantha said: "We are delighted to be representing Cenkos again and particularly pleased to have worked on two successful placings in the same week. Well done all!"