We are pleased to share that Argus Partners advised Syrma SGS Technology Limited (Syrma), a leader in electronic system design and manufacturing, on its strategic joint venture with Elemaster S.p.A Tecnologie Elettroniche (Elemaster), a global leader in electronics design and manufacturing headquartered in Italy, to establish a dedicated India-focused platform to serve high-reliability customers across the railway, industrial, and medical electronics sectors. This milestone reinforces Syrma’s vision of positioning India as a trusted hub for advanced, high-tech manufacturing while creating long-term value for customers and stakeholders.

By bringing together Syrma’s scaled, cost-efficient execution and Elemaster’s design expertise and strong relationships with European OEMs, the joint-venture will unlock new margin-accretive opportunities, increase share-of-wallet with global accounts, and further advance the “Make in India” solutions into critical, high-growth end-markets.

Commenting on the transaction, Sandeep Tandon, Chairman, Syrma, said, “This joint venture represents a milestone in our journey to build a global high-reliability electronics platform out of India. By combining Syrma’s world-class execution with Elemaster’s deep relationships with European OEMs, we are unlocking new growth vectors in rail, industrial, and medical segments. This partnership strengthens India’s position as a trusted global hub for high-tech manufacturing and will deliver long-term value to our customers and stakeholders.”

Satendra Singh, CEO, Syrma, said, “Our collaboration with Elemaster is built on complementary strengths. The JV structure ensures dedicated focus on high-reliability customers, efficient cost structures, and scalable operations. With a phased expansion plan and joint governance, the platform is well-positioned to drive accretive growth across railway, industrial, and medical electronics.”

Valentina Cogliati, CEO of Elemaster Group, added, “India is a strategic market for our customers and this joint venture with Syrma SGS gives us a reliable, competitive, and scalable base in the region. Together, we will bring Elemaster’s design depth and customer relationships to India, aligned with Syrma’s strong manufacturing pedigree. We are excited to deepen our commitment to our global OEM partners and expand their presence through high-quality, Made-in-India solutions.”

The team at Argus Partners advising Syrma SGS Technology consisted of Armaan Patkar (Partner), Ishita Agarwal (Senior Associate) and Rohan Lodge (Associate).