- Quest Global, a product engineering and lifecycle services company, announced that Chrys Capital, True North Managers LLP, and other institutional investors have purchased minority stake in the company for approximately US $150 million.
- Founded in 1997 by Ajit Prabhu and Aravind Melligeri in New York, Quest Global is a global product engineering and lifecycle services partner to many recognized companies in aero engines, hi-tech, aerospace & defense, transportation (auto and rail), power and industrial, oil & gas and medical devices industries.
- It provides engineering services, engineering research & development (ER&D) services, PES and outsourced product development services.
- It has presence in 13 countries, has 56 global delivery centers and has around 11,250+ personnel.
- Established in 1999, Chrys Capital is an India focused investment firm with approximately $4 billion of assets under management across eight funds.
- True North is a boutique investment bank founded in 2009 by a group of senior bankers to provide middle-market financial advisory services.
- Existing investors of Quest Global are Bain Capital, Advent and GIC.
- Chrys Capital commented that Quest, a player in the engineering services space, has consistently outperformed its peers and is a core engineering partner to most of the top global firms.
- According to the investors, 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.
- As per Quest Global Chairman and CEO Ajit Prabhu, 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.
- He further added that company’s focus will be to develop capabilities in hi-tech, software, digital segments along with other industries and help its customers solve their engineering challenges.
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