KKR, Bain, others vie for mid-cap investment in aero-focused Quest Global

According to local reports citing sources close to the deal, Quest is looking to raise between $50-75 million by October, some to be used for settling debt - about $20 million worth - while $30 million will be allocated for business expansion, acquisitions and service upgrades. The company, which has been valued at more than $300 million, has been on the fundraising trail. It currently claims $100 million in yearly revenue, garnered through the sale of software and services to the likes of Airbus, Boeing, EADS, GE and Rolls Royce. Merrill Lynch is advising the Bangalore-based company on the process.

Founded in 1997, Quest has used its previous PE backing to leverage its brand. In September 2003, the Carlyle Group took a stake in the company, later bought back by Quest's promoters in October 2007, which was reportedly worth approximately $6 million.

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• Topics
• Investments
• South Asia
• The Carlyle Group
• Warburg Pincus Asia
• KKR
• ChrysCapital Management
• Bain Capital Asia