Announced Date: August 2021
Value: USD 150.0 million
o3 Capital acted as the Exclusive Financial Advisor to QuEST Global on the transaction
ChrysCapital, True North Managers LLP, and other Institutional Investors invest a total of approximately US $150 million in the Company
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, 54 global delivery centers, and over 11,250 personnel.
The transaction demonstrates o3 Capital's expertise in the engineering space, and ability to continuously add value as a lifecycle banker. o3 Capital has helped Quest Global in closing 3 transactions in the past and continues to work closely with the management.
On the investment, Ajit Prabhu, Chairman & CEO, QuEST Global, said, “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.”
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.”
“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. 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,” said, Prasad Thrikutam – Partner, True North.