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SVP Worldwide

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SVP Worldwide
Company typePrivate
IndustrySewing machines
PredecessorKohlberg & Company
Founded2004; 20 years ago (2004)
Headquarters
Key people
Carl-Martin Lindahl (CEO)
OwnerPlatinum Equity
Websitesvpworldwide.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]

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

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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

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References

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  1. ^ Klooster, John (2009). Icons of Invention: The Makers of the Modern World from Gutenberg to Gates. Greenwood Press. p. 185. ISBN 9780313347436.
  2. ^ a b Oran, Olivia (12 March 2014). "Exclusive: Kohlberg looking to sell Singer sewing machine company - sources". Reuters. Retrieved 28 November 2019.
  3. ^ a b "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. ^ a b "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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