Global investors pick minority stake in QuEST for $350 mln

Global investors pick minority stake in QuEST for $350 mln

FPJ BureauUpdated: Friday, May 31, 2019, 05:59 PM IST
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New Delhi:  Engineering outsourcing firm QuEST Global Services said global investors Bain Capital, GIC and Advent International have together picked up a minority stake in the company for about $350 million (about Rs 2,398 crore).  These firms have completed the purchase of the stake held by an affiliate of global private equity firm Warburg Pincus (which invested in 2010) and certain other shareholders. The deal values the firm at about USD 1 billion.  “We are one of the most trusted global engineering partners for our customers. We have seen tremendous growth in the last few years and are on track for meeting our target of USD 1 billion in revenue by March 2020,” QuEST Chief Financial Officer Rajendra Kumar Shreemal told PTI.

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