SharkNinja, CDH Reach Strategic Investment Agreement

SharkNinja aims to suck up Dyson vacuum business

Founder, chief executive officer, and executive chairman of the board, Mark Rosenzweig, and Mark Barrocas, president, will maintain their existing roles operating SharkNinja with the current leadership team. In addition, Rosenzweig and Barrocas will maintain a significant equity interest in the company.

August 16, 2017 02:28 PM Eastern Daylight Time: NEEDHAM, Mass.–(BUSINESS WIRE)–CDH Fund V, L.P., a private equity fund managed by CDH Investments, entered into a definitive agreement in July 2017 to purchase a significant equity interest in SharkNinja, a pioneer and market leader in producing highly-innovative household cleaning and kitchen small appliances. The partnership is designed to propel the growth of the SharkNinja brands and its portfolio of products internationally.

The transaction will bring together the complementary strengths of the strategic partners to further reinforce SharkNinja’s global competitive edge. The company’s existing international expansion strategy will be enhanced by increased attention and resources to introduce innovative products to the homes throughout the world, with special emphasis on Asia.

“We are thrilled to become a shareholder and join SharkNinja’s top-notch management supported by an excellent team to further drive its impressive track record of growth,” said Max Hui, managing director at CDH. “We are committed to working closely with existing shareholders and management to maintain SharkNinja’s operations, team and management to sustain its strong momentum in existing markets and look forward to support SharkNinja’s expansion strategies to enhance its global leadership in the small home appliance sector.”

CDH has successfully proven its ability to integrate international businesses into Asian markets. For example, Shuanghui International, led by CDH Investments, acquired Smithfield Foods, the largest US pork producer, and later established WH Group, which is now one of the largest and most competitive branded meat processing companies in the world. CDH and SharkNinja believe that similar success can be achieved with this collaboration to secure SharkNinja’s leadership in small home appliances in the US, Asia and global markets.

Rosenzweig explained, “Our collaboration with CDH was the result of a thorough and thoughtful search for the right partner to meet our business objectives. We were diligent about finding the kind of alliance that would accelerate our global growth and are excited about the opportunity to work hand-in-hand with such an experienced and successful group.”

Rosenzweig also commented, “SharkNinja was able to build a loyal consumer base and quickly achieve a leadership position in the US through its customer-focused innovation and this investment will enable us to bring our innovations to new markets, grow the worldwide demand of our product portfolio, compete with other global brands and continue to deliver the exceptional results that SharkNinja has consistently generated over the past decade.”

The completion of the transaction is subject to the satisfaction of customary closing conditions.

About CDH

CDH Fund V, L.P. is an offshore USD private equity fund managed by CDH Investments, which is a dedicated alternative asset fund manager with close to USD 20 billion of assets under management. CDH-managed funds are anchored by renowned international sovereign wealth funds, endowments, and global family offices. CDH’s portfolio companies include an impressive collection of world-class companies in Asia and globally. CDH Investments seeks to partner with exceptional management teams to foster growth and build successful companies.

About SharkNinja/Euro-Pro HoldCo LLC

Euro-Pro HoldCo LLC, through SharkNinja, which carries out its core businesses, is a pioneer and market leader in producing highly-innovative household cleaning and kitchen small appliances from its headquarters in Needham, Massachusetts in the US. SharkNinja offers vacuums, hard floor cleaners and garment care products under the Shark brand as well as motorized kitchen appliances and drip coffee products under the Ninja brand.