CDH to invest in US housewares maker SharkNinja

The investment will be made from the GP’s fifth US dollar-denominated fund, CDH Fund V, which closed at $2.55 billion in 2014. Under the agreement, SharkNinja’s founder and CEO Mark Rosenzweig and president Mark Barrocas will maintain their existing roles, with a significant interest in the firm.

The partnership is expected to help expand SharkNinja's products internationally, especially in Asia. “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 said in a statement.

CDH previously supported China-based WH Group, formerly known as Shuanghui International, in its acquisition of US pork producer Smithfield Foods. WH Group then listed in Hong Kong in 2013. SharkNinja hopes to achieve the same success in the US, Asia and other markets through its collaboration with CDH.

Massachusetts-headquartered SharkNinja produces vacuums, hard floor cleaners and garment care products under the Shark brand, and also offers motorized kitchen appliances and drip coffee products under the Ninja brand.

CDH has about $20 billion under management across private equity, venture capital, real assets, mezzanine and credit, public equities and wealth management. Earlier this year, the GP closed its China mid-market fund at the hard cap of $800 million, beating the target of $600 million.

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

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• Topics
• Greater China
• Expansion
• Consumer
• China
• USA
• CDH Investments Management
• Growth capital