Prabhu will develop capabilities in hi-tech, software and digital segments
ChrysCapital from New Delhi and True North Managers LLP from Mumbai are among institutional investors that have invested approximately US$150 million for a minority stake in Singapore-headquartered QuEST Global, a global product engineering and lifecycle services company that have grown to 12,800 employs since it was first founded in 1997 in New York.
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. O3 Capital acted as the sole financial advisor to the transaction.
“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,” Sudip Nandy, Sr. Advisor. Enhancin, ChrysCapital, said in a release on 23 Aug 2021.
“QuEST is one of the top five players in the pure-play ER&D space and has built unique and deep expertise in an industry that is undergoing unprecedented digital disruption. As a leader in the engineering services space, QuEST has been offering strategic services to its customers rather than just a scale or merely cost differential,” added Prasad Thrikutam – Partner, True North.
“We were very impressed by the depth of engineering expertise and the diverse industries and emerging technologies in which QuEST is helping customers. We believe the ER&D space will continue to see significant growth and innovation in the years ahead, and we look forward to working with QuEST’s management team to capture these opportunities,” Thrikutam elaborated.
QuEST Global Chairman and CEO Ajit Prabhu explained, “We started QuEST with the vision of becoming the most recognized and trusted global engineering partner for our customers across industries. 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. It also crystallizes the value we have created for our shareholders and employees who have placed their belief in us and partnered with us in this journey.”
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.
With the pandemic accelerating digital transformation across industries, enterprises are investing heavily in digital solutions to lead and take advantage of this wave of software product engineering. Being a trusted thinking partner to its customers, QuEST has been helping solve some of the toughest problems they face by creating new products, opening new market opportunities, and maximizing efficiency. The company also provides an opportunity to its employees to learn and grow without limitations, develop expertise, collectively achieve aspirations and experience a rewarding journey.
For more than 20 years, QuEST Global has been a trusted global product engineering and lifecycle services partner to many of the world’s most recognized companies in the Aerospace & Defense, Automotive, Energy, Hi-Tech, Medical Devices, Rail, and Semiconductor industries. It has presence in 13 countries and 54 global delivery centers. #investment #technology #banking #economy /fiinews.com
