Key Takeaways
- • Bluestone Equity Partners, a New York-based private equity firm focused on sports, media and entertainment, acquired a majority stake in 11th St. Workshop, a design and fabrication company serving live events, experiential marketing and retail environments.
- • The deal is Bluestone's first buyout and the eleventh investment from its inaugural $350 million fund; financial terms were not disclosed.
- • 11th St. Workshop operates more than 120,000 square feet of production facilities across the New York and Los Angeles metro areas and has produced work for the 2026 Grammy Awards, the 78th Tony Awards red carpet and several major sporting and cultural events.
- • Bluestone estimates the U.S. live event design, fabrication and installation market at $2.5 billion to $3 billion, growing more than 10% annually.
- • Founder Louis Asaro remains CEO and retains a meaningful ownership stake; Bluestone becomes the company's first institutional investor.
Summary
Bluestone Equity Partners has acquired a majority stake in 11th St. Workshop, a design, manufacturing and installation firm serving entertainment events, brand activations and retail spaces, according to citybiz. The transaction is Bluestone's first buyout and the eleventh investment from its inaugural $350 million fund, and it marks the firm's move into majority ownership transactions as it continues deploying that capital. Financial terms, annual revenue, EBITDA, employee count, valuation and the specific ownership percentages of Bluestone and Asaro were not disclosed.
Founded in 2004 by Louis Asaro, 11th St. Workshop builds custom environments for major entertainment events, brand activations and retail spaces. The company operates more than 120,000 square feet of production facilities across the New York and Los Angeles metropolitan areas and serves agencies, brands and event producers nationwide. Its recent portfolio includes fabrication and production work for the 2026 Grammy Awards, the 78th Annual Tony Awards red carpet, and brand activations tied to the Super Bowl, the 2026 FIFA World Cup, the US Open, Coachella, South by Southwest and Art Basel.
The investment is intended to fund national expansion, higher production capacity and growth in sports and live entertainment. The company has already begun expanding its Los Angeles facility, a project expected to increase production capacity at that site by 300%. Bluestone plans to help broaden service offerings, strengthen project management systems and pursue opportunities through its relationships with sports rights holders, sponsors and event producers. Bobby Sharma, founder and managing partner of Bluestone, said the firm sees opportunities to expand the company's national reach in a fragmented industry, and that the firm will work with leadership to identify priority markets and improve operational coordination across production locations.
Bluestone's market analysis, conducted during acquisition diligence, estimates the U.S. live event design, fabrication and installation market at $2.5 billion to $3 billion, with annual growth exceeding 10%. The firm cites rising spending on live events and experiential marketing as supporting its strategy.
Asaro will continue as CEO and retain a meaningful ownership stake, and the company will maintain its established management team. Bluestone professionals Walker Brumskine and Shaaz Khan will join the board of directors. Bluestone, headquartered in New York City, invests in businesses across the global sports, media and entertainment industries, focusing on partnerships with established companies and management teams.
Founded in 2004 by Louis Asaro, 11th St. Workshop builds custom environments for major entertainment events, brand activations and retail spaces. The company operates more than 120,000 square feet of production facilities across the New York and Los Angeles metropolitan areas and serves agencies, brands and event producers nationwide. Its recent portfolio includes fabrication and production work for the 2026 Grammy Awards, the 78th Annual Tony Awards red carpet, and brand activations tied to the Super Bowl, the 2026 FIFA World Cup, the US Open, Coachella, South by Southwest and Art Basel.
The investment is intended to fund national expansion, higher production capacity and growth in sports and live entertainment. The company has already begun expanding its Los Angeles facility, a project expected to increase production capacity at that site by 300%. Bluestone plans to help broaden service offerings, strengthen project management systems and pursue opportunities through its relationships with sports rights holders, sponsors and event producers. Bobby Sharma, founder and managing partner of Bluestone, said the firm sees opportunities to expand the company's national reach in a fragmented industry, and that the firm will work with leadership to identify priority markets and improve operational coordination across production locations.
Bluestone's market analysis, conducted during acquisition diligence, estimates the U.S. live event design, fabrication and installation market at $2.5 billion to $3 billion, with annual growth exceeding 10%. The firm cites rising spending on live events and experiential marketing as supporting its strategy.
Asaro will continue as CEO and retain a meaningful ownership stake, and the company will maintain its established management team. Bluestone professionals Walker Brumskine and Shaaz Khan will join the board of directors. Bluestone, headquartered in New York City, invests in businesses across the global sports, media and entertainment industries, focusing on partnerships with established companies and management teams.
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