SVP Worldwide

Last updated
SVP Worldwide
Company type Private
Industry Sewing machines
Predecessor Kohlberg & Company
Founded2004;21 years ago (2004)
Headquarters
Nashville, Tennessee
Key people
Carl-Martin Lindahl (CEO)
Owner Platinum Equity
Website svpworldwide.com

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]

Contents

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]

History

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]

See also

References

  1. ↑ Klooster, John (2009). Icons of Invention: The Makers of the Modern World from Gutenberg to Gates. Greenwood Press. p. 185. ISBN   9780313347436.
  2. 1 2 Oran, Olivia (12 March 2014). "Exclusive: Kohlberg looking to sell Singer sewing machine company - sources". Reuters. Retrieved 28 November 2019.
  3. 1 2 "SVP Worldwide Announces Its New Research and Development Facility in Huskvarna/Jönköping area in Swe – SVP Worldwide". www.svpworldwide.com. Archived from the original on 2020-01-26.
  4. ↑ "Locations". SVP Worldwide. Retrieved April 25, 2021.
  5. ↑ Buckman, Jack (2016). Unraveling The Threads: The Life, Death and Resurrection of the Singer Sewing Machine Company, America's First Multi-National Corporation. Dog Ear Publishing. pp. 269–270. ISBN   9781457546617.
  6. ↑ "Kohlberg Unit Buys Singer Brand and Business". The New York Times. October 2, 2004. Retrieved December 20, 2019.
  7. 1 2 "About – SVP Worldwide", Svpworldwide.com, retrieved December 20, 2019
  8. ↑ Koncius, Jura (July 1, 2020). "The pandemic-fueled demand for masks has reignited interest in an age-old skill". The Washington Post. Retrieved April 25, 2021.
  9. ↑ Tschorn, Adam (April 17, 2020). "Our fashion critic reviews 'Making the Cut's' winning looks: 'Coachella-worthy'". Los Angeles Times. Retrieved April 25, 2021.
  10. ↑ McClatchie, Chrissie (February 15, 2021). "A Stitch in Time: Carl-Martin Lindahl". The CEO Magazine. Retrieved April 25, 2021.
  11. ↑ "Platinum Equity Completes Acquisition Of Global Sewing Machine Manufacturer SVP Worldwide". PR Newswire. August 2, 2021.
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