Platinum Equity has announced a definitive agreement to acquire a controlling stake in SVP-Singer Holdings, Inc. and its wholly owned subsidiaries (SVP Worldwide), the world’s largest consumer sewing machine company. Existing shareholders and management have retained a meaningful equity interest. Financial terms were not disclosed. The transaction is expected to be completed during the third quarter of 2021.
Latham & Watkins LLP represents Platinum Equity in the transaction with a corporate deal team led by Washington, D.C. partner David Brown, with associates Mariclaire Petty, Faisal Amin, and Philip Doerr. Advice was also provided on tax matters by New York partner Matthew Dewitz, with associate Eric Kamerman; on benefits and compensation matters by Washington, D.C. partner Matthew Conway, with associate Kirk Porter; on environmental matters by Washington, D.C. partner James Barrett, London partner Paul Davies, and London counsel Michael Green, with associate Sam Scott; on finance matters by Washington, D.C. partner Scott Forchheimer, with associates Melissa Fabian and Marie Greenman; on intellectual property matters by Washington, D.C. counsel Kieran Dickinson, with associate Thalia Garcia; on real estate matters by New York partner Dara Denberg, with associate Tom Ficchi; on compliance matters by Washington, D.C. partner Eric Volkman and Washington, D.C. counsel Sarah Nappi, with associates Chris D’Agostino, Lauren McGuire, Elizabeth Annis, and Matthew Gregory; and on antitrust matters by Brussels partner Sven Völcker and Washington, D.C. counsels Patrick English and Joe Simei, with associate Eva Beyer Blumental.