Exxelia, a global leader in high-performance passive components and subsystems, has acquired a 70% stake in India-based SVM Private Limited, an established provider of magnetic components and busbars for the healthcare and industrial markets.
Founded in 1989 by Hemalatha and RamprasadMeka, SVM brings over 35 years of expertise in designing and manufacturing coils, transformers, and specialized busbars, especially for medical imaging. SVM will soon be renamed Exxelia SVM, and will continue operations from its Chennai facility, with Mr. Meka retaining 30% ownership and remaining in his leadership role.
This acquisition enhances Exxelia’s footprint in India, particularly in medical technology, while expanding its magnetics and busbars offerings. “We are delighted to welcome SVM to the Exxelia family,” said Paul Maisonnier, CEO of Exxelia. “This partnership strengthens our magnetic products range and expands our Indian presence with a new manufacturing base, complementing our capacitor facility. It supports our commitment to French customers’ offset requirements and enables us to tap into India’s fast-growing market.”
Ramprasad Meka, Managing Director of SVM, expressed enthusiasm for joining Exxelia, “SVM is excited to become part of Exxelia, a company renowned for its magnetics expertise in power electronics and medical sectors. This partnership allows us to preserve our team’s talent while leveraging Exxelia’s global sales network to drive international growth and broaden our reach.”
KPMG Corporate Finance advised SVM shareholders, with VNS Legal Partners as legal counsel for SVM and Pioneer Legal advising Exxelia. Based in Chennai, SVM specializes in advanced magnetic and busbar solutions, including high-precision inductors, transformers, and multi-layer laminated and flexible busbars, primarily for healthcare and industrial applications.
Exxelia is a global designer and manufacturer of high-reliability passive components, with facilities across France, Morocco, the United States, India, and Vietnam. Their portfolio includes advanced capacitors, magnetic products, resistors, and sensors tailored for markets such as aerospace, defense, medical, and telecommunications.
