Bain Capital, Advent in fray to pick minority stake in QuEST

Private equity investors, Bain Capital and Advent International are in fray to pick up a minority stake in engineering outsourcing firm, QuEST Global Services.
According to sources, QuEST is in discussions with the private equity players for selling minority stake in a deal that would value the company at about USD 1 billion.
When contacted, a QuEST spokesperson said, "QuEST Global is committed to delivering best-in-class engineering solutions and as a policy does not respond to speculations pertaining to investment activities."
Response could not be elicited from Bain Capital and Advent International.
Set up in 1997 by Aravind Melligeri and Ajit Prabhu, QuEST provides engineering outsourcing services to companies in sectors like oil and gas, power and healthcare.

It is headquartered in Singapore and has offices across 30 locations and has clients including Rolls-Royce, The Boeing Co, Airbus SA, General Electric Co and General Motors Co.

It has over 7,300 employees with almost half of its engineers based in its facilities in Bengaluru, Belgaum and Thiruvananthapuram.
According to industry body Nasscom, engineering outsourcing services export revenues stood at USD 12.4 billion in March 2014.
This is poised to touch USD 45 billion by 2020 as global enterprises tap into the talent pool here to optimise cost and increase efficiency.