Ace Designers Limited (Ace, ADL) has announced a strategic investment partnership with Kotak Alternate Asset Managers Limited (Kotak Alts). This funding will support Ace Designers Limited's plans for business expansion, capacity enhancement, and strengthening its global presence.
Founded in 1979 by three engineers from the Central Manufacturing Technology Institute (CMTI) as a design consulting company, Ace went on to establish the AceMicromatic Group. With the amalgamation of Ace Designers, Ace Manufacturing Systems, and Micromatic Machine Tools, the new entity, Ace Designers Limited, has become India's largest manufacturer of CNC turning centres and machining centres. With an anticipated annual turnover exceeding Rs 2,400 crore in FY24–25, ADL has the capacity to manufacture 8,000 turning centres and 3,400 machining centres.
ADL has a strong market presence across Asia, Australia, the Middle East, North and South America, and Europe. It holds over 25 years of market leadership in CNC turning and machining centres within the domestic market.
Ace acknowledges the role played by EY in the amalgamation and execution of this investment. Their expertise and systematic approach were invaluable, and Ace expresses sincere thanks for their diligent efforts.
SG Shirgurkar, Promoter, ADL, said: "This pivotal partnership with Kotak Alts will be a powerful catalyst, accelerating our investments in technology, capacity, and talent. It strengthens our commitment to becoming a significant global player and amplifies our nation-building efforts through advanced manufacturing and skill development. We are excited about the transformative synergies and our enhanced ability to serve our customers and achieve our long-term vision."
TK Ramesh, Managing Director, ADL, said: "In line with our many firsts, we are working diligently to become a global machine tool company from India. We strongly believe that flexible and competitive manufacturing can bridge technology gaps. This partnership marks a significant step forward in enabling us to cater to both high-technology and standard-volume markets."
Eshwar Karra, Managing Partner, Kotak Alts, commented: "We are bullish on the Indian manufacturing theme. The Ace team, with its entrepreneurial and engineering-first spirit, has been building India's manufacturing ecosystem for the past four decades. CNC machines are a critical pillar of the manufacturing industry, and we are excited to participate in Ace's growth journey and contribute to such an important aspect of the economy."
Rahul Chhaparwal, Partner, Kotak Alts, added: "Ace is poised for substantial growth with several key milestones ahead. The company is embarking on an ambitious expansion journey, and our investment aligns with our philosophy of partnering with high-quality, innovative, and customer-centric businesses led by experienced management teams."
