Exxelia, a leading designer and manufacturer of high-performance passive components and sub-systems, announces the acquisition of 70% of SVM Private Limited, a prominent Indian company specialized in the design and manufacturing of critical magnetic components and busbars, specifically serving the healthcare and industrial end-markets.
Founded in 1989 by Hemalatha and Ramprasad Meka, SVM has 35 years of expertise in the design, development, and manufacturing of coils, transformers, and laminated or coated/plated busbars. Over the years, the company has become a leader in critical magnetic solutions for medical imaging applications, leveraging its deep understanding of all relevant standards and strong commitment to quality.
Mr. Meka, who serves as SVM’s Managing Director will continue to own 30% of SVM and will remain in his current leadership role. Aside from an upcoming change of name where SVM will be renamed as Exxelia SVM, the company will continue to operate from its current Chennai facility and does not expect any material Team Member turnover to result from the acquisition.
Through this partnership, Exxelia is reinforcing its footprint in India, enhancing its product offer with busbars and expanding its know-how and expertise in magnetics while strengthening its position in the medical sector, a key area of development.
Paul Maisonnier, Chief Executive Officer of Exxelia, said: “We are thrilled to welcome SVM to the Exxelia family! SVM is a well-established leader in its niche market, recognized for its great technology and talented teams. By joining forces with SVM, we are significantly enhancing our magnetic product portfolio across a wide range of markets. Additionally, we are expanding our presence in India with a new magnetic manufacturing site, complementing our existing capacitor facility. This strategic move will not only strengthen our support for French customers in meeting their offset obligations but also enhance our ability to capitalize on the rapidly growing Indian market.”
Ramprasad MEKA, Founder and Managing Director of SVM, said: “SVM is delighted to be a part of Exxelia, a human-sized passive component group with deep expertise in magnetics for use in power electronics, medical equipment and Industrial electronics sectors. This partnership marks a significant milestone in SVM's journey, enabling us to retain our talented team, while benefiting from Exxelia’s vast global sales network. We look forward to this new chapter, which will accelerate our international growth and enhance our global reach.”
KPMG Corporate Finance acted as the exclusive financial advisor to the shareholders of SVM Private Limited for this transaction. On the legal side, VNS Legal Partners acted as the legal advisors to SVM shareholders and Pioneer Legal acted as the legal advisors to Exxelia.
www.exxelia.com