Key Takeaways
- • Bluestone Equity Partners, a New York-based private equity firm focused on the global Sports, Media & Entertainment industry, announced its first buyout: a majority stake in 11th St. Workshop, according to a Business Wire release.
- • The transaction is the eleventh investment from Bluestone's inaugural $350 million fund.
- • 11th St. Workshop, founded in 2004 by Louis Asaro, operates more than 120,000 square feet of production space in the New York and Los Angeles areas and designs, fabricates, and installs custom environments for live events, brand campaigns, and retail spaces.
- • Bluestone's diligence estimates the company's core U.S. live event design, fabrication, and installation market at $2.5 billion to $3.0 billion, growing more than 10% annually.
- • The company is expanding its Los Angeles facility, which is expected to increase production capacity there by 300%.
Summary
Bluestone Equity Partners ("Bluestone"), an institutionally backed private equity firm headquartered in New York City, announced its first buyout with the acquisition of a majority stake in 11th St. Workshop ("11th Street"), according to a Business Wire release. The transaction is the eleventh investment from Bluestone's inaugural $350 million fund. Louis Asaro founded 11th Street in 2004 and continues to lead the company as CEO while retaining a meaningful ownership stake. Bluestone is the company's first institutional investor.
11th Street designs, fabricates, and installs custom environments for live events, brand campaigns, and retail spaces, working with blue-chip agencies and brands nationwide. Its work includes event and stage production for the 2026 Grammy Awards, the 78th Annual Tony Awards red carpet, and brand activations at the Super Bowl, the 2026 FIFA World Cup, the US Open, Coachella, South by Southwest, and Art Basel. The company operates more than 120,000 square feet of production space across the New York and Los Angeles areas.
In response to strong customer demand, 11th Street has begun expanding its Los Angeles facility, a project expected to raise production capacity there by 300%. Market analysis used in Bluestone's diligence estimates the company's core U.S. market for live event design, fabrication, and installation at $2.5 billion to $3.0 billion, with annual growth above 10%, driven by an expanding live events sector and rising experiential marketing spend. The company plans to expand nationwide, broaden its services, and take on more sports and live entertainment work.
Bobby Sharma, Founder & Managing Partner of Bluestone, said the firm sees room to grow the platform in a fragmented industry as the experiential economy expands. Bluestone will work with 11th Street's leadership to prioritize markets and services for national expansion and strengthen project planning and management systems. The firm plans to draw on its relationships with rights holders, sponsors, and producers to grow the company's pipeline in sports and live entertainment. Bluestone's Walker Brumskine and Shaaz Khan will join 11th Street's board of directors.
11th Street designs, fabricates, and installs custom environments for live events, brand campaigns, and retail spaces, working with blue-chip agencies and brands nationwide. Its work includes event and stage production for the 2026 Grammy Awards, the 78th Annual Tony Awards red carpet, and brand activations at the Super Bowl, the 2026 FIFA World Cup, the US Open, Coachella, South by Southwest, and Art Basel. The company operates more than 120,000 square feet of production space across the New York and Los Angeles areas.
In response to strong customer demand, 11th Street has begun expanding its Los Angeles facility, a project expected to raise production capacity there by 300%. Market analysis used in Bluestone's diligence estimates the company's core U.S. market for live event design, fabrication, and installation at $2.5 billion to $3.0 billion, with annual growth above 10%, driven by an expanding live events sector and rising experiential marketing spend. The company plans to expand nationwide, broaden its services, and take on more sports and live entertainment work.
Bobby Sharma, Founder & Managing Partner of Bluestone, said the firm sees room to grow the platform in a fragmented industry as the experiential economy expands. Bluestone will work with 11th Street's leadership to prioritize markets and services for national expansion and strengthen project planning and management systems. The firm plans to draw on its relationships with rights holders, sponsors, and producers to grow the company's pipeline in sports and live entertainment. Bluestone's Walker Brumskine and Shaaz Khan will join 11th Street's board of directors.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.