SVP Worldwide is an American private company that designs, manufactures, and distributes consumer

sewing machine A sewing machine is a machine used to sew fabric and materials together with thread. Sewing machines were invented during the first Industrial Revolution to decrease the amount of manual sewing work performed in clothing companies. Since the inv ...

s and accessories around the world under three brands:

Singer Singing is the act of creating musical sounds with the voice. A person who sings is called a singer, artist or vocalist (in jazz and/or popular music). Singers perform music (arias, recitatives, songs, etc.) that can be sung with or without ...

Husqvarna Viking 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. Husqvarna may refer to: * Husqvarna Vapenfabriks Aktiebolag, the original branch, a defu ...

, and

Pfaff PFAFF (german: PFAFF Industriesysteme und Maschinen AG, PFAFF Industrial) is a German manufacturer of sewing machines and is now owned by the SGSB Co. Ltd. History PFAFF was founded in Kaiserslautern, Germany, in 1862 by instrument maker ...

. The company's corporate headquarters is located in Nashville, TN and is supplemented by regional headquarters and sales offices located in Milan (Italy), São Paulo (Brazil), and Sydney (Australia). Via its affiliates, SVP operates in more than 180 countries. 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.

History

SVP was formed when

Kohlberg & Company Kohlberg & Company is an American private equity firm that focuses on leveraged buyout transactions. Founded by investor Jerome Kohlberg, Jr., the firm invests in a variety of transactions including leveraged carveout, take-private transactions, ...

, an American

private equity firm A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including leve ...

that owned the Swedish

VSM Group VSM Group AB (Viking Sewing Machines), previously named Husqvarna Sewing Machines is a company based in Huskvarna, Sweden. Founded in 1872, the company is best known for "smart" (computerized) sewing machines and sergers under the brands ''Husqv ...

(owner of the Husqvarna Viking and Pfaff sewing machine brands), combined VSM with Singer, which it acquired in 2004 for $134 million. The company was founded in 2006 and was formerly headquartered in

Hamilton, Bermuda The City of Hamilton, in Pembroke Parish, is the territorial capital of the British Overseas Territory of Bermuda. It is the territory's financial centre and a major port and tourist destination. Its population of 854 (2016) is one of the sm ...

. In 2018, Kohlberg & Company sold SVP Worldwide to

Ares Management Ares Management Corporation is an American global alternative investment manager operating in the credit, private equity and real estate markets. The company was founded in 1997 and is headquartered in Los Angeles, California, with additional of ...

, a publicly traded global asset manager based in

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world' ...

. In 2020, SVP's subsidiary Singer reported an increase in machine sales due to the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identif ...

. In response, the company released a variety of patterns for DIY reusable face masks. Also in 2020, SVP collaborated with the Amazon Prime show '' Making the Cut''. In 2021, SVP unveiled an upcoming sewing machine, the Pfaff Creative Icon 2, which will operate with artificial intelligence functions. Also in 2021, SVP was acquired by

Platinum Equity Platinum Equity, LLC is an American private equity investment firm founded by Tom Gores in 1995. The firm focuses on leveraged buyout investments of established companies in the U.S., Europe and Asia. History Platinum Equity was founded in 199 ...

References

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External links

SVP Worldwide
American companies established in 2004 Manufacturing companies established in 2004 Privately held companies based in Tennessee Sewing machine brands Home appliance manufacturers of the United States Manufacturing companies based in Nashville, Tennessee Kohlberg Kravis Roberts companies 2018 mergers and acquisitions 2021 mergers and acquisitions Private equity portfolio companies

History

See also

References

External links