Lorraine Heggessey (pictured), the former controller of BBC1 and head of TalkbackThames, has led a buyout of indie production group Boomerang Plus, which is be relaunched as Boom Pictures.
Boomerang Plus has agreed to a £7.1 million (US$11 million) management buyout deal, and will be de-listed from the London Stock Exchange.
The group consists of production companies Boomerang, which producers drama and extreme sports content; Fflic, producer of lifestyle and reality series including Welsh in a Week; factual and entertainment producer Alfresco, which makes Plastic Surgery School and Stories From the Street; and drama and children’s prodco Apollo; as well as post-production facilities, a talent arm and a film division.
Heggessey will serve as executive chairman of the Cardiff-based Boom Pictures, which will be dedicated to creating television and digital content. A group of executives were behind the buyout, including Huw Eurig Davies, the chief executive of Boomerang Plus, who will be chief executive of Boom Pictures.
The Boom Pictures team also includes finance director Mark Fenwick and executive director Gareth Rees, who will inject £2.2 million into the new company with the rest of the cash coming from private equity firm LDC.
Prior to this management takeover, Heggessey was serving as a consultant for Pulse.
Her credits while at TalkbackThames included involvement with The X Factor and Britain’s Got talent, and as the first female controller of BBC1 she oversaw the introduction of Strictly Come Dancing and Doctor Who.
“Working together with Lorraine and LDC is a significant move as we continue to develop our strategy of building a strong international creative business headquartered in Wales,” said Boomerang and Boom CEO Huw Eurig Davies.
“I can’t wait to return to working with talented creatives, helping them to develop and produce wonderful programs,” added Heggessey. “I have found two ideal partners who share my vision for a company that will be truly independent in spirit, with creativity at its heart. Huw and his Boomerang team have built a thriving production group that is ready for expansion.
“LDC is an investor with a great track record in understanding the complex demands of building a media company, with the resources to support Boom Pictures as it grows.”