Broadcast supplier Gearhouse seeking sale

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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.

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