Company type | Private |
---|---|
Industry | Sewing machines |
Predecessor | Kohlberg & Company |
Founded | 2004 |
Headquarters | |
Key people | Carl-Martin Lindahl (CEO) |
Owner | Platinum Equity |
Website | svpworldwide |
SVP Worldwide is an American privately held company that designs, manufactures, and distributes consumer sewing machines and accessories around the world under three brands: Singer, [1] Husqvarna Viking, and Pfaff. [2]
The company's corporate headquarters is located in Nashville, Tennessee, and is supplemented by regional headquarters and sales offices located in Milan (Italy), São Paulo (Brazil), and Sydney (Australia). [3]
Via its affiliates, SVP operates in more than 180 countries. [4]
The company has its central R&D, sales, and customer service employees in the Huskvarna/Jönköping region of Sweden with support teams in Shanghai, London and Nashville. [3]
SVP was formed when Kohlberg & Company, an American private equity firm that owned the Swedish VSM Group (owner of the Husqvarna Viking and Pfaff sewing machine brands), combined VSM with Singer, [5] which it acquired in 2004 for $134 million. [6] The company was founded in 2006 [2] and was formerly headquartered in Hamilton, Bermuda. [7]
In 2018, Kohlberg & Company sold SVP Worldwide to Ares Management, a publicly traded global asset manager based in Los Angeles. [7]
In 2020, SVP's subsidiary Singer reported an increase in machine sales due to the COVID-19 pandemic. In response, the company released a variety of patterns for DIY reusable face masks. [8] Also in 2020, SVP collaborated with the Amazon Prime show Making the Cut . [9]
In 2021, SVP unveiled an upcoming sewing machine, the Pfaff Creative Icon 2, which will operate with artificial intelligence functions. [10] Also in 2021, SVP was acquired by Platinum Equity. [11]
Singer Corporation is an American manufacturer of consumer sewing machines, first established as I. M. Singer & Co. in 1851 by Isaac M. Singer with New York lawyer Edward C. Clark. Best known for its sewing machines, it was renamed Singer Manufacturing Company in 1865, then the Singer Company in 1963. It is based in La Vergne, Tennessee, near Nashville. Its first large factory for mass production was built in 1863 in Elizabeth, New Jersey.
KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. As of December 31, 2023, the firm had completed more than 730 private equity investments in portfolio companies with approximately $710 billion of total enterprise value. As of December 31, 2023, assets under management (AUM) and fee paying assets under management (FPAUM) were $553 billion and $446 billion, respectively.
Huskvarna constitutes the eastern part of Jönköping, a city in the Swedish province of Småland, and has a population of about 24,000. The distance to central Jönköping is about 5 km. The name Huskvarna translates to House Mill.
Jönköping is a city in southern Sweden with 112,766 inhabitants (2022). Jönköping is situated on the southern shore of Sweden's second largest lake, Vättern, in the province of Småland. In late 2019, Jönköping was seen as the city with best future prospects in Sweden.
Husqvarna is a Swedish company founded in 1689 to produce muskets. The company has grown since, was partitioned, and is now a brand of multiple companies.
Orbit Irrigation Products, Inc, located in Salt Lake City, UT, United States, is a manufacturer and supplier of irrigation products for residential and commercial markets and has been in business since 1986. It distributes over 2,000 products to 40 countries on five continents.
Big Machine Records is an American record label, distributed by Universal Music Group. Specializing in country and pop artists, Big Machine is based on Music Row in Nashville, Tennessee. The label was founded in September 2005 by former DreamWorks Records executive Scott Borchetta and became a joint venture between Borchetta and country singer Toby Keith. The company concentrates on publishing, management, and merchandising and oversees imprints, such as Valory Music, that are part of the Big Machine Label Group.
PFAFF is a German manufacturer of sewing machines and is now owned by the SGSB Co. Ltd. Pfaff sewing machines are no long manufactured in Germany.
The Husqvarna Group is a Swedish manufacturer of outdoor power products including robotic lawn mowers, chainsaws, trimmers, brushcutters, cultivators, and garden tractors. Founded as a firearms manufacturer in 1689, it is one of the oldest continuously running companies in the world. Headquartered in Stockholm, Sweden, the group also produces consumer watering products under the brand Gardena, cutting equipment and diamond tools for the construction and stone industries.
Grande Holdings Ltd is a Chinese manufacturer of consumer and professional audio and HiFi components based in Kowloon, Hong Kong.
Platinum Equity, LLC is an American private equity investment firm founded by Tom Gores in 1995, headquartered in Beverly Hills, California. The firm focuses on leveraged buyout investments of established companies in the U.S., Europe and Asia.
The White Sewing Machine Company was a sewing machine company founded in 1858 in Templeton, Massachusetts, by Thomas H. White and based in Cleveland, Ohio, since 1866.
VSM Group AB, previously named Husqvarna Sewing Machines is a company based in Huskvarna, Sweden.
Husqvarna Motorcycles GmbH is an Austrian company which designs, engineers, manufactures and distributes motocross, enduro, supermoto and street motorcycles.
China Feiyue Sewing Machinery Group was founded in 1986 by Qiu Jibao, and is one of the largest non-state enterprises in China. Its headquarters are in Taizhou, Zhejiang province, and the company has over 30 international offices in other countries.
Alf Ragnar Sten Henrikson was a Swedish writer, poet and translator, known for his interest in language and for his broad general knowledge. He wrote a number of books about popular science and history, and for many years he was part of the staff of Dagens Nyheter, where he published short poems about current events or other topics.
The COVID-19 pandemic affects the global fashion industry as governments close down manufacturing plants, and through store closures, and event cancellations to attempt to slow the spread of the virus. The COVID-19 pandemic has had a major impact on fashion brands worldwide. At the same time, the fashion industry faces challenges in consumer demand. New opportunities are also presenting themselves as fashion brands shift to making fashionable COVID-19 face masks. Domenico de Sole, chairman of Tom Ford International, remarked that "I have seen a lot of difficult situations in my long career and this has been the most devastating event, not just for fashion and luxury, but all industries."
Singer PLC is a Sri Lankan holding company engaged in retailing and wholesale marketing home appliances and furniture. The company is also taking part in financial services and manufacturing businesses. The company is listed on the Colombo Stock Exchange since 1981 and in 2017, the Sri Lankan conglomerate, Hayleys acquired the majority of the shares. Singer is ranked 17th in the LMD 100, an annual list of listed companies in Sri Lanka by revenue, in 2020/21 edition. Brand Finance ranked the company 15th most valuable brand in Sri Lanka in its annual list of top 100 brands.