Alignment Growth ‘align’ to PMY Group

Article posted by Coliseum, November 13^th, 2024

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The US-based media and entertainment investor Alignment Growth Management has secured a strategic stake in the PMY Group, a Melbourne (Australia)-based company that specializes in technology partner for live sport, entertainment and the leisure sector as it continues to grow its presence in North America.

‘BUSINESS NEWS AUSTRALIA’ stated that founded in 2009 by Paul Yeomans, the PMY Group works with the venues, major events and infrastructure builders around the world providing enterprise-focused strategy, design and implementation solutions to optimize operations and drive revenue growth.

New York (US)-based the Alignment Growth is an investment manager focused on growth-stage, privately-held companies across media, entertainment and gaming. Leveraging its leadership team’s multi-decade track record of operating, strategy and dealmaking experience as the senior executives of global Fortune 500 companies, the Alignment Growth provides value-added capital solutions to the entrepreneurs seeking to build world-class businesses and takes a highly engaged approach partnering with the management teams and the founders to help achieve their growth ambitions and create lasting shareholder value.

Melbourne (Australia)-based the PMY Group (PMY) is a leading full-service technology solutions provider dedicated to enhancing the infrastructure, experience, operations, and intelligence of venues and major events globally. From its origins in stadium technology, the PMY has broadened its scope now servicing over 1,000 clients in 14 countries across a diverse array of sectors. The PMY Group’s expertise extends from the foundational technology infrastructure that powers the venues and the events to the experiential systems that shape what the audiences see, touch and feel, and further to the sophisticated software platforms and business intelligence solutions that optimize operational efficiency and decision-making.

‘BUSINESS NEWS AUSTRALIA’ further stated that the company services more than 1,000 clients in 15 countries supporting events such as the LIV Golf (a professional men’s golf tour), the British Open Golf Championship and the Hyde Park Winter Wonderland (a large annual Christmas Winter wonderland fair) in London (UK), and bodies such as the Tennis Australia for the Australian Open and the Olympic organizing committees.

Among its recent projects is the development of a comprehensive technology master plan for the unique Nassau County International Cricket Stadium, a 34,000-seat modular and temporary stadium in East Meadow, New York (US).

The latest investment by the Alignment Growth Management comes on the heels of a US$30 million ($45 million) capital injection last year by the New York-based Bluestone Equity Partners, a global sports, media and entertainment private equity firm which participated in the PMY’s first institutional capital raise since inception.

The Alignment Growth says its new investment will help support the PMY’s expansion into the North American market.

Founded in 2021 by the media and entertainment industry veterans Alex Iosilevich, Kevin Tsujihara and Jeff Bewkes, the Alignment Growth is an investment manager focused on growth-stage companies that are privately-held in this niche sector.

The PMY investment is the eighth to date for the Alignment Growth’s inaugural fund and it has been big enough to secure Tsujihara a seat on the PMY Board.

Averred Tsujihara, “Our investment in PMY is reflective of Alignment Growth’s strong belief in the growth of experiential entertainment and the live events sector. As technology solutions for modern venues become more complex and the operators focus on providing exceptional fan experiences, we see ongoing opportunities for the outsourced service providers. As a leader in enhancing the way people operate and experience the public venues, places and the major events, the PMY is well-positioned to benefit from these tailwinds.”

The PMY says the partnership with the Alignment Growth will help the group build on the strong organic growth and accretive acquisitions the company has already achieved.

The company announced in September a merger with the award-winning creative studio KOJO, a move that the company says strengthened its intelligence, technology and experience offerings globally.

Put in Paul Yeomans, head honcho and Founder of PMY, “As a trusted partner for the venues, major events and infrastructure builders around the world, the PMY understands the importance of having a highly experienced and deeply knowledgeable business partner. The decades of experience in the industry and extensive professional networks that the Alignment Growth brings will catalyze a new phase of growth for the PMY and we are excited to embark on this next chapter with Kevin and the team.”

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