Carlyle, a global investment firm, and Quest Global have jointly declared a definitive partnership agreement, solidifying their collaboration. Under this arrangement, Carlyle is set to secure a substantial minority stake in Quest Global, marking a pivotal step forward for both entities.
This groundbreaking partnership is underpinned by equity sourced from funds managed and advised by Carlyle Asia Partners’ affiliated entities. Simultaneously, this deal will witness the departure of current investors Bain Capital and Advent International. Quest Global is poised to repurchase its own company shares as part of the agreement. Notably, Ajit Prabhu, the esteemed Chairman and CEO of Quest Global, is slated to augment his stake in the company through this arrangement.
Carlyle’s perspective on the transaction highlights the collaboration’s intrinsic connection to Quest Global’s steadfast commitment to its long-term business strategy and the well-being of its employees. Although exact financial particulars were not disclosed, insider information reveals that Carlyle will secure a 28 percent stake for a sum of $500 million, consequently placing the company’s valuation at an impressive $1.8 billion.
Hailing from Singapore, Quest Global commands a formidable global presence as a leader in engineering, research, and developmental services catering to intricate engineering system design, product development, and operational needs. Bolstered by a team of 17,500 adept engineers dispersed across 67 delivery centers and offices spanning 17 countries, Quest Global is a force to be reckoned with in its domain.
The company’s strategic focus has been on amplifying its workforce in India, where it presently employs 10,000 individuals out of its global talent pool of 17,500. “Carlyle was the pioneering early-stage private equity investor in Quest Global, and we are delighted to rekindle this partnership,” affirmed Amit Jain, Managing Director and Head of Carlyle India Advisors, emphasizing the gravity of this renewed collaboration.
