NEW YORK--(BUSINESS WIRE)--Bluestone Equity Partners ("Bluestone"), the global sports, media & entertainment (“SME”) private equity firm, today announced an investment in PMY Group ("PMY"), a premier international venue, events and infrastructure technology solutions firm. This is PMY’s first institutional capital raise since inception.
Founded in 2009 by Paul Yeomans in Melbourne, Australia, PMY works with venues, major events and infrastructure builders around the world, providing enterprise-focused strategy, design and implementation solutions to optimize operations and drive revenue growth. By leveraging transformational and proprietary technologies, the company designs, implements and manages a broad range of innovative solutions, including venue and crowd intelligence, digital scoreboards and billboards, acoustics and noise control, experiential lighting, security and surveillance, and control room and production technologies.
PMY has delivered more than $1 billion of technology solutions to over 1,000 venues and events globally, including many well-known professional facilities and events. In the U.S. alone, PMY, through its wholly owned design firm, WJHW, has completed the technical design for the majority of current major professional sports venue developments, including 29 of the 30 most recent in the NFL, 28 of 30 in MLB, and more than half of MLS.
PMY will leverage the investment, along with Bluestone Equity’s deep operating experience in SME and large global network, to further its growth and international expansion strategy. As part of this effort, the company plans to relocate its global headquarters from Melbourne to the United States. Following the investment, Bobby Sharma, Bluestone’s Founder and Managing Partner, will join PMY’s Board of Directors.
“PMY aligns perfectly with Bluestone’s mission to partner with strong and scalable blue-chip businesses, and will serve as a cornerstone of the strategic growth equity portfolio we’re building,” said Mr. Sharma. “Through hard work, strategic and accretive M&A, and great leadership, Paul and his management team have built an incredible business with a massive addressable market. PMY’s value-add has become more relevant and impactful in the sports, media & entertainment industry over time, and now serves critical needs for a wide variety of infrastructure, including large public facilities such as airports, universities and stadiums and arenas. We’re honored to be PMY’s first institutional investor, and a major part of this next chapter in their remarkable growth story.”
PMY marks the first investment for Bluestone, which closed its inaugural $300 million growth equity fund in the first quarter of 2023. Bluestone is differentiated in the SME capital marketplace due to its industry operating experience, global network, stable capital base, and collaborative approach.
“Over the past 14 years, PMY has delivered impressive performance and growth by leveraging technology to help venues of all types deliver a safe, secure and engaging experience,” said Paul Yeomans, Founder & CEO of PMY. “We intend to leverage the new investment from Bluestone to accelerate PMY's growth through both organic and inorganic expansion opportunities as we strive to support the fast-growing infrastructure technology market. We see Bluestone as a true partner and look forward to benefitting from the firm’s expertise across sports, media and entertainment as we continue to grow all over the world.”
About PMY Group
PMY Group provides technology solutions to venues, infrastructure and major events. Founded in Melbourne, Australia in 2009 with a simple vision to provide major venues, events and sporting organizations with independent advice to support their technology needs, PMY Group has assisted more than 1000+ venues and major events across 14 countries. It has offices located in Australia, USA, UK, Europe and Asia.
PMY Group’s current and recent clients include: SoFi Stadium, Allegiant Stadium, Mercedes Benz Stadium, New York Mets, New York City FC, US Tennis Association, consecutive Olympic Organizing Committees, 2020, 2024, 2028, Principality Stadium, Wimbledon, The Open Championship, UEFA, Fulham, the England & Wales Cricket Board, Melbourne Olympic Park (Australian Open), Australian Turf Club, Sydney Motorsport Park and Sydney Showground Stadium.
For more information, visit www.pmygroup.com.
About Bluestone Equity
Headquartered in New York City, Bluestone Equity Partners is a private equity firm harnessing a unique combination of blue-chip business and investing experience, coupled with deep industry ties, to forge highly strategic capital partnerships with established Sports, Media & Entertainment businesses and properties. Led by Founder & Managing Partner Bobby Sharma, Bluestone partners with exceptional management teams and rights-holders seeking growth and scale on a global basis.
For more information, visit www.bluestoneequity.com.