ChrysCapital, True North, others invest $150 mn in QuEST Global for minority stake
Summary
Homegrown private equity players ChrysCapital and True North Managers LLP as well as others have invested around $150 million for a minority stake in QuEST Global which is a Singapore-based engineering solutions and lifecycle services company. Ajit Prabhu, chairman and CEO, QuEST Global, said, “Our focus will be to develop capabilities in hi-tech, software, digital segments along with other industries and help our customers solve their engineering challenges.” O3 Capital acted as the sole financial advisor to the transaction. ChrysCapital also recently decided to sell its stake in Silicon Valley-based digital and software services provider Infogain Co. Singapore-based QuEST was co-founded in Bengaluru by Prabhu and Aravind Melligeri in 1997. It is a global engineering solutions provider to companies in sectors including aerospace and defence, high tech and industrial, medical devices, oil and gas, power, and transportation. In a similar space as QuEST, last year Chryscapital re-invested in automotive engineering and mobility software company KPIT Technologies Ltd to pick up a 2.84% stake.