Portfolio
Boomerang TV, S.A.
| Sector | Technology, Media & Telecoms |
|---|---|
| Investment type | Growth Capital |
| Region | Spain |
| Status | Current investment |
Nature of Business
Founded in 1998, the Boomerang TV Group is an independent producer of audiovisual content, specialising in entertainment and fiction for television. It produces national content and has several regional subsidiaries which have granted Boomerang access to many local channels.
Boomerang has also recently developed a subsidiary company, targeting new TDT operators and low cost productions.
Investment Overview
3i invested in return for a 40% stake in Boomerang in January 2008 in a deal valued at €36.4m. The investment was structured as a combined share purchase and share capital increase. The aim of the investment is to support the company’s ambitious growth plan over the next five years.
We built an excellent relationship with Pedro Ricote, the CEO of Boomerang TV who, with the founding shareholders, was keen to find a financial partner to support Boomerang’s growth and drive the business into a more corporate-focused structure. Our experience in the media sector through deals such as Boxer and Sparrowhawk Media make us an ideal partner.
Since our investment we have successfully built upon the corporate development of Boomerang, having introduced two new NXDs and implemented a new management reporting process, developed strongly the fiction business line, concluded a full restructuring of the organisation adapting it to new market requirements and challenges, and started the international expansion.
