The unit is named after the Swedish chemist Theodor Svedberg (1884-1971), winner of the Nobel prize in chemistry in 1926 for his work in the chemistry of colloids and his invention of the ultracentrifuge.
Bigger particles generally sediment faster, and therefore have higher svedberg values. The svedberg is however not additive. Since the sedimentation rate is associated with the size of the particle, when two particles bind together there is inevitably a loss of surface area. Thus when measured separately they will have svedberg values that do not add up to that of the particle formed when they bind together.
The svedberg is the most important measure used to distinguish ribosomes.