Global investors buy minority stake in QuEST Global for $150 million

QuEST Global, a product engineering and lifecycle services company, has announced that ChrysCapital, True North Managers LLP, and other institutional investors have invested about $150 million to purchase a minority stake in the company.

The investors have completed the purchase of a portion of the shares held by the co-founders and management team of QuEST. The existing investors - Bain Capital, Advent, and GIC continue to remain invested.

“The investment by three of the most respected global investors, despite the ongoing pandemic crisis is a testament to our ability to build and grow our business to become the most trusted thinking partner to customers,” Ajit Prabhu, Chairman & CEO, QuEST Global said.

QuEST is among the top five global ER&D services providers in the world for over two decades. It is present in over 13 countries with 54 global delivery centres and 11,250 employees.

Commenting on the investment in QuEST, Sudip Nandy, Managing Director and Operating Partner, ChrysCapital, said, “ChrysCapital has a strong track record of over 20 investments in the Technology Services sector, which has been an integral part of our portfolio across funds. QuEST is one of the leading players in the engineering services space and has consistently outperformed its peers and demonstrated the ability to scale accounts in a fragmented industry, by becoming the core engineering partner to most of the top global firms across its target industry verticals. We are excited to back Ajit and the executive team at QuEST and look forward to working with them on the journey ahead.”

Ajit further added that as the industrial world bounces back into pre-pandemic days, enterprises would need help from companies like QuEST – to bridge the gap between the industrial and digital world - and rebuild the lost traction. “Our focus will be to develop capabilities in hi-tech, software, digital segments along with other industries and help our customers solve their engineering challenges,” he said.