Journeo, a provider of information systems and technical services to transport operators, local authorities, and the public transport networks that connect them, has acquired Crime and Fire Defence Systems Limited (CFDS), a specialist infrastructure protection systems integrator in physical and cyber security solutions to the UK Critical National Infrastructure, Defence and Utilities markets.
Journeo’s strategic acquisition of CFDS will add depth and breadth to capabilities in critical ‘cost of failure’ solutions across public transport, passenger information and vital national infrastructure installations, such as those at major railway stations, international airports and nuclear power generation facilities.
The total consideration comprises approximately £10.7m in cash from existing resources, £2m in deferred cash payments repayable in equal amounts after 12 and 24 months following completion and £1m through the issue of new ordinary shares of 6.5p each in the company to the vendors of CFDS with a 24-month minimum holding period.
It is expected that CFDS will have over £1m of cash on completion, resulting in an aggregate cash balance of £9m for the enlarged group post completion of the acquisition.
For the 12 months ended 30 April 2025, CFDS reported audited revenue of £17.33m, PBT of £1.36m and had net assets of £3.93m.
Russ Singleton, CEO, Journeo, said: “We are delighted to announce the acquisition of CFDS, a recognised leader in utility Infrastructure Protection solutions. This acquisition aligns with our strategy of taking our core capabilities into adjacent markets and strengthens our offering and broadens our reach. We look forward to working closely with the CFDS team to unlock value and deliver enhanced integrated solutions to a broader client base.”
