He initially set PMY up as a specialised consulting firm to advise them how to do it, but over the past five years it has built its own proprietary software platforms and data products.
“As venues have invested a lot into their technologies stack, they are creating a significant amount of data,” Mr Yeomans said.
St Kilda great Nick Riewoldt is an investor in the company. Getty Images
“We are building and developing both proprietary and customer-owned data management platforms that will allow our clients to understand everything that is happening in their venue, in real time… and to automate their response to those insights.”
Mr Yeomans said the company was bootstrapped for its first eight years, before raising money from a group of 40 family, friends and high net worth individuals to expand globally. Mr Clifford, who was Qantas’ chairman from 2007 to 2018 sits on the board of PMY, along with chairman Ray Wilson, a former Hawthorn footballer and ex-chairman of Hastings Funds Management, and David Whelan the former chief executive of Adelaide-based WhelanCare Aged Care.
Other industries
PMY Group employs 250 people and has more than 1000 clients across major stadiums, events and festivals and is moving into other infrastructure providers such as airports and university campuses.
The firm has acquired six companies in its history, including Dallas-based firm WJHW which designed the digital scoreboards, acoustics and lighting at 29 of the 30 NFL venues, including SoFi Stadium in Los Angeles.
“Bluestone’s relationships and expertise across the North American and European sport entertainment market was a perfect fit for us,” Mr Yeomans said.
Bluestone was launched earlier this year by Bobby Sharma, a former executive with the National Basketball Association and sports and entertainment agency IMG Worldwide.
The private equity group raised $US300 million from institutional investors for its first fund, which closed in the first quarter of 2023, for investment in sports, media and entertainment.
Following the investment Mr Sharma will join PMY’s board of directors.
Mr Yeomans did not disclose the valuation but said the funds would be used to fund further acquisitions and its growth in North America and Europe.
