AusLeisure

USA-based media and entertainment investor Alignment Growth Management has secured a strategic stake in Melbourne-based live entertainment and venue technology provider PMY Group.

Founded in 2009, PMY has grown into a full-service technology solutions company that supports venues and major events to enhance their infrastructure, experience, and intelligence.

Expanding from its original focus on sporting venues, the company has diversified to service more than 1,000 clients across 15 countries, including LIV Golf, The Open Championship, Tennis Australia, Olympic organising committees and the UK’s Glastonbury Festival and Hyde Park Winter Wonderland.

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 the USA.

The investment from the Alignment Growth Management follows a US$30 million capital injection last year by Bluestone Equity Partners, a global sports, media and entertainment private equity firm which participated in PMY’s first institutional capital raise since inception.

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

Founded in 2021 by media and entertainment industry veterans Alex Iosilevich, Kevin Tsujihara and Jeff Bewkes, Alignment Growth employs a thematic approach to identify and partner with category-leading media and entertainment companies poised for growth. The investment in PMY marks Alignment Growth's eighth investment out of its inaugural fund.

Following the transaction, Tsujihara will join PMY's Board of Directors.

Commenting on the investment, Tsujihara stated “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 operators focus on providing exceptional fan experiences, we see ongoing opportunities for outsourced service providers. As a leader in enhancing the way people operate and experience public venues, places, and major events, PMY is well-positioned to benefit from these tailwinds."

By partnering with Alignment Growth, PMY looks to build on the strong organic growth and accretive acquisitions the company has already achieved.

Welcoming the investment, PMY Group founder and Chief Executive, Paul Yeomans noted “as a trusted partner for venues, major events, and infrastructure builders around the world, 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 Alignment Growth brings will catalyse a new phase of growth for PMY, and we are excited to embark on this next chapter with Kevin and the team."

Images: LIV Golf is a PMY client (top) and Paul Yeomans, PMY Group founder and Chief Executive (below).

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