Leading broadcast supplier Gearhouse Broadcast Australia, which supplies production equipment for major OB broadcasts in Sydney and Melbourne, looks set to be sold.
News Corp reports British-based advertising agency Gravity Media is believed to be selling its subsidiary, through financial firm Deloitte.
The Australian fleet consists of six HD units of various sizes and two SD units.
The business is understood to be worth about $70 million and specialises in outside broadcast, project solutions and dry hire equipment rental, working at events such as the V8 Supercars, AFL for Seven Network, Super 15s rugby union and A-League soccer for FOX Sports. Gearhouse has led projects at the Australian Open, Commonwealth Games and I’m A Celebrity Get Me Out of Here.
According to estimates, Gearhouse Broadcast Australia would be worth between $60m and $70m, should it be sold for between four and five times its EBITDA.