Grupo Boomerang TV (Spain) - Jan 2008

3i has acquired a 40% stake in Spanish broadcasting group Boomerang TV in a deal valued at €36.4m. The operation entails a combination of shares and expansion capital. The remaining 60% of the stake will be retained by the founding partners and the management team. The deal was originated by Boomerang through Ambers financial advisory and it took six months to complete. There is no debt package involved.

Company

Madrid-based Boomerang TV was founded in 1998 and specialises in the production of television programmes for national and regional networks. The company valued at €91m reported a €41m turnover in 2007. The capital expansion will serve to support the company’s development strategy which aims to triple the size of the firm during the next five years. The investors plan to strengthen the company’s presence in national and regional television networks; develop Boomerang’s fiction business line and expand the digital terrestrial television coverage currently offered.

People

Maite Ballester led the deal for 3i.

Advisers

Equity - Araoz y Rueda, Francisco Aldavero (Legal)Equity - PricewaterhouseCoopers, Enrique Muñoz (Financial Due Diligence)Vendor - Dikei Abogados, Paloma Pérez de León (Legal)

Sourced from: Southern Europe unquote" 71 (Feb 2008)

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• Topics
• Southern Europe
• Expansion
• Media
• Spain