LDC takes Boomerang private

At the time of completion, Boomerang had a market cap of £6.65m and had reported £1.22m of total debt on its 2011 balance sheet.

The business was acquired by newco Boom Pictures, which will be the new trading name of Boomerang. CEO Huw Eurig Davies remains in his position, while previous BBC One controller and Talkback Thames chief executive Lorraine Heggessey has been brought in as executive chair.

Company
Boomerang, founded in 1992, is a media production company, working with programme production, post-production and television facilities. Based in Cardiff, UK, the company employs around 200 staff and reported EBITDA of £1.12m from a £37m revenue in 2011.

People
Daniel Sasaki is managing director of LDC London.

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