MUMBAI: Hillhouse Funding has acquired a minority stake in Quest International, an engineering companies firm in Singapore, in a mixture of main and secondary share purchases, the businesses mentioned in a press release on Monday. The businesses didn’t disclose the monetary particulars of the transaction.
“Their funding reinforces the energy of our differentiated worth proposition, monetary and working self-discipline, and long-term development technique,” mentioned Ajit Prabhu, co-founder and chief government officer of Quest International. “We look ahead to partnering with Hillhouse as we additional spend money on superior engineering capabilities that may assist our purchasers.”
Backed by the Carlyle Group, Quest International will use the extra capital to realize its strategic priorities. The funding will likely be made by means of funds managed and suggested by Hillhouse Funding Administration.
Quest has been backed by non-public fairness corporations together with Creation Worldwide, Bain Capital, ChrysCapitalTrue North and GIC.
Excessive-growth sectors
“The corporate’s deal with mission-critical programmes, long-term buyer relationships and disciplined execution has enabled it to scale sustainably throughout high-growth sectors equivalent to aerospace, automotive, power and semiconductors,” Sean Carney, companion, co-head of world buyout at Hillhouse Funding, mentioned within the assertion. “Quest International is properly positioned to learn from rising international demand for superior engineering and technology-led transformation.”
Based in 1997 by Prabhu and Aravind Melligeri, Quest operates in additional than 18 international locations together with India, with over 93 international supply centres. It operates in sectors equivalent to aerospace and defence, automotive, power, hi-tech, medtech and healthcarerail and semiconductor industries.
Singapore-based international various funding supervisor Hillhouse has greater than 20 years of experience and a spread of funding methods that span public equities, non-public fairness, non-public credit score and actual property. Its non-public fairness portfolio spans 30 international locations and manages property on behalf of institutional purchasers equivalent to college endowments, foundations, household places of work and different long-term institutional traders primarily based within the US, Southeast Asia and the Center East.
Jefferies served because the unique monetary adviser to Quest International on the transaction.