Hillhouse invests in Quest Global to fuel growth
SINGAPORE CITY, SINGAPORE — Global outsourced engineering services provider Quest Global has secured a minority investment from Hillhouse Investment, a prominent global investment firm, in a deal structured to inject primary capital and facilitate share purchases from existing stakeholders.
The move aims to accelerate Quest Global’s strategic initiatives and bolster its capabilities in solving complex engineering challenges for top original equipment manufacturers (OEMs) worldwide.
Investment details and strategic capital utilization
The deal between Quest Global and Hillhouse comprises two prongs: a new primary capital infusion in the business and the purchase of shares by selected current shareholders.
Quest Global, a private, independent, and pure-play outsourced engineering services firm, plans to use this additional capital to advance its long-term strategic priorities.
The partnership is being institutionalized by channeling investment through funds managed and recommended by Hillhouse Investment Management.
Ajit Prabhu, Co-Founder and Chief Executive Officer (CEO) of Quest Global, emphasized, “This investment by global [brand-name] investment manager Hillhouse is a significant step in our journey to be the most trusted partner for the world’s hardest engineering problems.”
“Their investment reinforces the strength of our differentiated value proposition, financial and operating discipline, and long-term growth strategy.”
He further noted that the partnership will facilitate additional investment in high-level engineering to support the firm in providing clients with more opportunities to overcome the challenges posed by modern technologies and to enable future innovation.
Market positioning and future growth outlook
Quest Global has consolidated its market position over the years with support from the global investment group, The Carlyle Group, which has helped the company strengthen its governance and expand its presence worldwide.
This track record of institutional backing has strengthened Quest Global’s engineering relationship with major global OEMs.
With more than 21,500 employees and operations in 18 countries, the company has 93 global delivery centers. It takes a multidimensional approach, integrating technology with industry experience and diverse talent to manage critical engineering issues.
Sean Carney, Co-Head and Partner, Global Buyout at Hillhouse Investment, indicated that the company has strong domain experience and disciplined execution, which are attractive to investors. Quest Global has become a partner that can be relied upon by the world’s most esteemed OEMs.
The mission-critical programs, long-term customer relationships, and disciplined execution have also helped the company grow sustainably in high-growth businesses such as aerospace, automotive, energy, and semiconductors, Carney explained.
Carney notes, “We believe Quest Global is [well-positioned] to benefit from increasing global demand for advanced engineering and technology-led transformation. We look forward to partnering with the company to support its next phase of growth and long-term value creation.”
Jefferies acted as Quest Global’s exclusive financial advisor for this transaction, which is still under customary closing terms.
