Exxelia, a global manufacturer of passive components and sub-systems headquartered in Paris, has acquired controlling interest of SVM Private Limited in India which specializes in the design and manufacturing of magnetic components and busbars for 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 busbars. Over the years, the company has become a leader in critical magnetic solutions for medical imaging applications. 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 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 the deal, 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 for the company.
“We are thrilled to welcome SVM to the Exxelia family,” said Paul Maisonnier, CEO of Exxelia. “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.”
At its facility in Chennai, SVM is equipped to design and produce a broad range of magnetic products such as inductors, transformers and bobbins for high and low frequency applications as well as a variety of electrical busbars. Every step of product development is controlled internally, enabled by an extensive lineup of in-house tooling and equipment. For more Information, see www.exxelia.com and www.svmpl.in.
