Exxelia has announced the purchase of 70% of SVM Private Limited, a well-known Indian company specialising in designing and producing vital magnetic components and busbars for the industrial and healthcare end industries.
SVM, which was founded in 1989 by Hemalatha and Ramprasad Meka, has 35 years of experience in the design, development, and production of transformers, coils, and busbars that are laminated, coated, or plated.
The company’s strong dedication to quality and thorough awareness of all pertinent standards have allowed it to establish itself as a pioneer in key magnetic solutions for medical imaging applications over the years.
The managing director of SVM, Mr. Meka, will keep his 30% stake in the company and continue to run it. Apart from a planned name change in which SVM will become Exxelia SVM, the business will remain based in Chennai and anticipates no significant team member turnover as a result of the acquisition.
Through this collaboration, Exxelia is boosting its position in the medical sector, a crucial area of development, increasing its product offering with busbars, and deepening its knowledge and experience in magnetics.
The sole financial advisor to SVM Private Limited’s shareholders in this transaction was KPMG Corporate Finance. On the legal front, Pioneer Legal served as Exxelia’s legal advisor while VNS Legal Partners served as SVM shareholders’ legal advisor.
Key Comments
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.”
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