Carlyle buys $500mn stake in engineering services company Quest

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MUMBAI: Personal fairness financier Carlyle will purchase a minority stake in engineering providers firm Quest International, changing Bain Capital and Creation, who will exit the corporate. Based on sources, Carlyle would pay $500 million for little greater than one-fourth of the corporate, valuing it at $1.8-2 billion.

Singapore-based Quest International was arrange by its current chairman Ajit Prabhu and CEO Aravind Melligeri in 1997. Its purchasers embody giants comparable to Airbus, BMW, P&W, Rolls-Royce, Siemens and GE. It has a multi-disciplinary crew of 17,500 engineers, throughout 67 supply centres and workplaces, in 17 nations.
As a part of this transaction, Quest International will repurchase its firm shares and Ajit Prabhu will purchase an extra stake within the agency. “Carlyle was the primary early-stage personal fairness investor in Quest International, and we’re proud to companion once more,” mentioned Amit Jain, MD of Carlyle India Advisors. Jain added that Quest International will profit from the rising give attention to elevated outsourcing and disruptive expertise developments throughout industries. Bain Capital, Creation and Singapore sovereign wealth fund GIC collectively purchased a minority stake in Quest International for $350 million in 2016.

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