ABOUT THE COMPANY
SVP Worldwide, doing business through SVP-Singer Holdings, Inc. and its affiliates, is the world’s largest consumer sewing machine company, accounting for approximately one out of every three sewing machines sold annually globally. The company and its three iconic brands - SINGER®, HUSQVARNA® VIKING®, and PFAFF® - have delighted consumers for over 450 years. These premium brands and products are regarded as the choice for serious sewists and novice crafters.
The company’s corporate headquarters is located in Nashville, TN, and is supported by regional headquarters/sales offices located in Milan (Italy), Mexico City (Mexico), and Sydney (Australia) that, combined, reach consumers in more than 180 countries. SVP Worldwide has manufacturing facilities across Asia and Latin America, multiple R&D centers, a European software development center, and a global supply chain with distribution centers in all regions.
SVP Worldwide has a history of innovation and has established a leading offering in the Internet-of-Things (IoT) segment by introducing mySewnet®, the industry’s first cloud-based operating system, and the Premier+ suite of software. Its product portfolio covers entry-level sewing machines all the way up to advanced, internet-connected, leading-edge household sewing machines that retail for $15,999 and all segments in between. In addition to sewing machines, the product portfolio includes sewing accessories, notions, garment care products as well as software.
The products are sold across a network of sewing machine dealers, mass retailers (e.g., Costco, Walmart, Lidl, MediaMarkt, Carrefour), specialty retailers (e.g., Joann, Michaels), online retailers (e.g., Amazon, Tmall), distributors, and through the company’s ~171 internally operated retail stores.
The sewing machine industry is a global industry that is experiencing renewed growth. In developed markets, growth rates are projected to outpace GDP growth, according to Global Industry Analysts, Inc., the leading industry data source. Growth in these markets is driven by the millennial generation which is increasingly attracted to personalization, crafts, and self-expression. In developing markets, the industry is expected to grow at 6.7% annually, fueled by the emerging middle class and the “need to sew” segment that uses sewing machines to support the household.
In 2021, Platinum Equity acquired the controlling stake in SVP-Singer Holdings, Inc. and its wholly-owned subsidiaries ("SVP Worldwide").
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $25 billion of assets under management and a portfolio of approximately 50 operating companies serving customers worldwide.
Platinum Equity specializes in mergers, acquisitions, and operations – a trademarked strategy it calls M&A&O® – acquiring and using companies in a broad range of business markets. Interests include manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications, and other industries. Over the past 25 years, Platinum Equity has completed more than 300 acquisitions. Platinum Equity will make substantial investments to align SVP Worldwide for growth.