Finance

PMY secures Alignment Growth investment

Featured image credit: Troutfarm27/CC BY-SA 4.0/Edited for size

Featured image credit: Troutfarm27/CC BY-SA 4.0/Edited for size

Technology advisory, investment and delivery company PMY Group has secured investment from Alignment Growth Management, an investment firm focused on growth-stage, privately held media and entertainment companies.

PMY said its partnership with Alignment Growth will support the company’s plans to build on the “strong organic growth” and accretive acquisitions it has already achieved.

PMY, a full-service technology solutions company that is headquartered in Melbourne, was founded in 2009 with a focus on stadiums. The company has since diversified to service more than 1,000 clients across 15 countries.

The company’s clients currently include LIV Golf, SoFi Stadium (pictured), The Open Championship, Principality Stadium and Tennis Australia. The investment from Alignment Growth will support PMY’s further expansion into the North American market.

Alignment Growth was founded in 2021 by media and entertainment industry veterans Alex Iosilevich, Kevin Tsujihara and Jeff Bewkes. 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.

Tsujihara said: “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.”

Paul Yeomans, founder and chief executive of PMY, added: “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.”