Groupe HLD, an investment group, offered to acquire Exxelia, a provider of of high reliability passive components and electromechanical systems, from IK Investment Partners, a Pan-European private equity firm, for $552m. "I am delighted to embark on a new stage of development with our new shareholders, with whom we share the same vision. Together, we aim to strengthen Exxelia’s unique “one-stop-shop” by offering high-reliability custom products combined with a strong capacity for innovation. We will pursue our continuous improvement approach and internationalisation strategy to make Exxelia a world leader in our niche markets. In that regard, HLD's experience in international business development is invaluable to us. We thank IK Investment Partners for their support over the past five years which has enabled us to set up a solid platform capable of supporting our ambitions for global growth, which we are delighted to continue with HLD," Paul Maisonnier, Exxelia CEO.