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Heggessey confirms buy-out and relaunch of Boom Pictures

Heggessey confirms buy-out and relaunch of Boom Pictures
News
Staff Reporter
27 July 2012

Lorraine Heggessey has confirmed the management buy-out of Boomerang to relaunch as Boom Pictures, a new independent television business.

Boom Pictures is backed by private equity house LDC. The £7.1 million public to private offer for Boomerang will see Heggessey become executive chairwoman of Boom Pictures with Huw Eurig Davies, the chief executive of Boomerang Plus, as ceo. They aim to grow a powerhouse of production for TV and digital platforms with headquarters in Cardiff.

Developing talent is one of the priorities for Boom Pictures which wants to work with creative talent and small independent TV companies who would benefit from additional investment and the expertise of senior industry executives to help them achieve their full potential.  

Heggessey has been looking for an opportunity to invest in a business to serve as a platform to build a significant, new creative group focused on the production and ownership of intellectual property since leaving the job of ceo of TalkbackThames in 2010 .

“Huw, the management team and I have been working towards this day for months so that we can build on the successes of Boomerang and take the company to the next level," says Heggessey. "We already have a great business and we want to build on that to grow a thriving, creative and ambitious group."

Davies co-founded Boomerang in 1994 and has since expanded the business to become a major production centre in the Nations and Regions. Already a leading producer of Welsh language programming across genres including entertainment, drama and children’s, it has recently expanded its network programmes through the acquisitions of Indus Films, producer of Bruce Parry’s series, and Oxford Scientific Films, producer of Meerkat Manor and Fatal Attractions.

It also has a strong and growing branded content division working with major brands such as BT, Bacardi and Red Bull.

Boomerang also has an investment in Harlequin talent agency with opera star Bryn Terfel and facilities Gorilla and Zoom.

Davies said: “Forming Boom Pictures enables us to pursue business across all platforms of the evolving broadcasting and production sector. This investment, coupled with Lorraine's renown and experience, will create more opportunities as we seek to develop more output from the UK Nations and Regions.”

LDC has committed to invest £200m in the Technology, Media and Telecommunications sector over two years. It has a track record in media investment, including TV production like Mersey TV and believes the UK TV production sector has strong growth prospects, at home and abroad.




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