Ace Designers announces strategic investment partnership with Kotak Alts
Ace Designers Limited (ADL) announces a strategic investment partnership by Kotak Alternate Asset Managers Limited. This funding will support Ace Designer Limited’s plans for business expansion, capacity enhancement and strengthening its global presence.
Ace Designers Founded in 1979 by three engineers from the Central Manufacturing Technology Institute (CMTI), as a design consulting company went on to establish AceMicromatic Group. With the amalgamation of Ace Designers, Ace Manufacturing Systems and Micromatic Machine Tools, the new organization Ace Designers Limited is India’s largest manufacturer of CNC turning centres and machining centres. With an anticipated annual turnover exceeding Rs. 2,400 Cr in FY24-25, ADL has a capacity to manufacture 8,000 turning centres and 3,400 machining centres. ADL has established a market presence across Asia, Australia, the Middle East, North and South America, and Europe and has over 25 years of market leadership in CNC Turning & CNC Machining Centers in the domestic market.
Ace is appreciative of the role played by EY in this amalgamation & investment execution journey bring in their expertise systemic approach and thank them 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 and are on the path to become a global machine tool company from India with a strong belief that flexible and competitive manufacturing will fill in technology gaps. With this partnership we take a step ahead to play in the both the high technology market and the standard volume market.”
Eshwar Karra, Managing Partner, Kotak Alts, said, “We are bullish on the Indian manufacturing theme and the Ace team, with its entrepreneurial and engineering first spirit, has been working on building India’s manufacturing eco-system for the past 4 decades. With CNC machines being one of the critical pillars of the manufacturing industry, we are excited to participate in Ace’s growth story and contribute to such an important aspect of the manufacturing economy.”
Rahul Chhaparwal, Partner at Kotak Alts, expressed optimism about the partnership, stating, “Ace is on the verge of substantial growth with several key milestones approaching. The Company is embarking on a significant expansion journey and our investment in Ace is in-line with our philosophy of partnering with high quality, innovative and customer centric businesses run by experienced management teams.”
