CDH Fund V, L.P., a private equity fund managed by CDH Investments, has entered into a definitive agreement to purchase a “significant equity interest” in SharkNinja.
According to the companies, the partnership is designed to propel the growth of the SharkNinja brands and its portfolio of products internationally.
Mark Rosenzweig, founder, chief executive officer, and executive chairman of the board, 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.
According to SharkNinja, the deal will allow the housewares supplier to enhance its existing international expansion strategy with the goal of introducing products in markets globally, with a focus 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 supporting SharkNinja’s expansion strategies to enhance its global leadership in the small home appliance sector.”
Rosenzweig added, “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.”
The completion of the transaction is subject to the satisfaction of customary closing conditions.