
Warburg Pincus QuEST Global deal confirmed for bigger ticket size
Warburg Pincus has invested $75 million in Singapore-headquartered engineering outsourcing services firmm QuEST Global, higher than the $60 million originally forecast, according to a joint announcement.
With the deal, Warburg Pincus will take a significant minority stake in QuEST Global, which operates out of facilities in India, Spain, Japan, Germany and elsewhere worldwide. According to the announcement, QuEST will use the funding to expand and buttress its service infrastructure and core business. This follows a competitive deal process where Bain Capital, ChrysCapital and Kohlberg Kravis Roberts & Co. (KKR) were all cited as competing bidders for the asset, in an unusual level of competition for a mid-cap deal.
"Over a period of 14 years QuEST has established a strong position in the engineering services space," Vishal Mahadevia, Managing Director, Warburg Pincus India, said. "Warburg Pincus looks forward to working in close partnership with the QuEST Global team to further strengthen the company's position." Bank of America Merrill Lynch acted as financial advisor to QuEST.
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.