Action Construction Equipment Limited (ACE), the world's largest Pick-n-Carry crane manufacturer and a leading material handling and construction equipment company in India, has signed a Memorandum of Understanding with Kotak Mahindra Bank to enhance financing accessibility for backhoe loader purchases across the country.
The partnership targets contractors, infrastructure developers, entrepreneurs, small and medium enterprises, and emerging businesses by offering customized loan solutions with streamlined processing and competitive terms. The agreement leverages Kotak Mahindra Bank's nationwide network to reach customers in diverse markets.
The MoU was formalized in the presence of Sorab Agarwal, Executive Director of ACE, and Vinod Chauhan, Senior Executive Vice President at Kotak Mahindra Bank. Chauhan, who oversees construction equipment financing for the bank, played a key role in developing the customer-focused financial framework underpinning this initiative.
Under the agreement, Kotak Mahindra Bank will provide financing support for ACE's backhoe loader range. Customers will gain access to simplified financing procedures, competitive loan structures, expedited approvals, and broader availability of credit options.
Commenting on the partnership, Sorab Agarwal stated that ACE's customer-centric approach focuses on delivering value-for-money products with high productivity at competitive prices. He noted that the collaboration with Kotak Mahindra Bank would strengthen the company's ability to support customers through customized financing packages designed to meet diverse business requirements. The partnership aims to simplify equipment purchases, improve affordability, and facilitate business expansion through tailored financial solutions.
The collaboration reinforces ACE's commitment to facilitating equipment acquisition, supporting business growth, and contributing to India's infrastructure development initiatives.
ACE, established in 1995 and headquartered in Palwal, Haryana, holds over 63% market share in the mobile cranes segment and approximately 60% in the tower cranes segment domestically. The company manufactures a comprehensive range of equipment including mobile and fixed tower cranes, backhoe loaders, vibratory rollers, forklifts, tractors, and agricultural machinery. With more than 125 sales and service locations supported by 13 regional offices across India, ACE also exports to over 37 countries spanning the Middle East, Africa, Asia, and Latin America.