Boomerang Systems, Inc. Announces New CEO

Posted on | September 23, 2010 | No Comments

Morristown, New Jersey, August 23, 2010 – Boomerang Systems, Inc. (OTCQB:BMER) announced that it has named Mark R. Patterson as Chief Executive Officer and a member of the Board of Directors. The Company’s founder, Stan Checketts, will continue to lead product development and manufacturing as CEO of Boomerang Sub Inc, which handles US operations.

Until January of 2009, Mr. Patterson was a Managing Director and the Head of Real Estate Global Principal Investments at Merrill Lynch, where he oversaw the real estate principal investing activities of Merrill Lynch. Mr. Patterson joined Merrill Lynch in April 2005 as the Global Head of Real Estate Investment Banking and in 2006 also became the Co-Head of Global Commercial Real Estate which encompassed real estate investment banking, principal investing and mortgage debt. Prior to joining Merrill Lynch, Mr. Patterson spent 16 years at Citigroup where he was the Global Head of Real Estate Investment Banking since 1996. During his career, Mr. Patterson has been involved in a wide variety of financing and investing activities that have spanned virtually all types of real estate in most major global property markets.

“I am thrilled to be a part of one of the most innovative and dynamic companies in the real estate business today. Real estate is a very mature business so when a breakthrough in technology like Boomerang’s RoboticValetTM is introduced, it not only creates excitement because it’s something new, but primarily because we believe it can give owners and operators a competitive advantage in the market.”

About Boomerang Systems – Boomerang Systems, Inc. is a leading US manufacturer of automated parking systems headquartered in Morristown, NJ with research and production facilities located in Logan, Utah.

Additional information may be obtained by contacting Maureen Cowell, Boomerang’s Secretary, at 973-538-1194 or email at maureenc@boomerangsystems.com.

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