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Singapore, February 18, 2016: Leading global investors Bain Capital, GIC and Advent International have invested a total of approximately US $350 million to purchase minority stakes in QuEST (the “Company”), a global engineering solutions provider. These firms have completed the purchase of the stake held by an affiliate of Warburg Pincus, a global private equity firm focused on growth investing, which invested in 2010, and certain other shareholders of the Company.

“We started QuEST with the vision of becoming the most recognized and trusted global engineering partner for our customers,” said Ajit Prabhu, Co-founder, Chairman and CEO of QuEST. “This investment by three of the most respected global investors reflects the progress we are making. It also crystallizes the value we have created for our shareholders and employees who have placed their belief in us and partnered with us in this journey.” Mr. Prabhu added, “The Warburg Pincus team has been a great partner for QuEST and sounding board for me and my colleagues as we have grown and diversified the business over the past five years.”

QuEST’s service portfolio includes mechanical, embedded and engineering software offerings across high tech industries such as aerospace, transportation, energy and medical devices. The Company has been continually rated by Zinnov in the “Leadership Zone” in the Aerospace, Energy and Medical Devices verticals and as having deep expertise in the Automotive vertical.

“We are partnering with QuEST because of the differentiated business platform and distinctive culture of the company. QuEST has demonstrated the ability to scale accounts in a fragmented industry by becoming the core engineering partner to most of the top global firms in its target industries. We are excited to back Ajit and the executive team at QuEST and look forward to working with them on the journey ahead”, said Pawan Singh, a Managing Director of Bain Capital Private Equity.

“GIC is confident of QuEST’s capability to provide engineering services across all stages of the product development life cycle. QuEST’s local-global approach enables its clients to achieve cost-effective solutions for their complex engineering needs”, said Maverick Wong, Head, Asia Private Equity at GIC.

 

“QuEST is a pioneer in the engineering services outsourcing space,” said Shweta Jalan, a Managing Director at Advent International. “We were very impressed by the depth of its engineering expertise as well as the diverse industries and emerging technologies in which QuEST is helping its customers. We believe the ESO space will continue to see significant growth and innovation in the years ahead, and we look forward to working with QuEST’s management team and our co-investors to capture these opportunities.”

“The team at QuEST has built a market leading engineering services company in a very short span of time and Warburg Pincus has been fortunate to be part of this journey.  We are pleased to have partnered with QuEST as the business has undergone significant growth and development and wish the Company all the best for continued success,” said Vishal Mahadevia, Co-Head of Warburg Pincus India.

Credit Suisse acted as the sole financial advisor to QuEST.

About Bain Capital Private Equity:

Bain Capital is one of the world’s leading private investment firms with approximately $75 billion in assets under management. Founded in 1984, Bain Capital pioneered a consulting-based approach to private equity investing, partnering with management teams to build great businesses and improve their operations. Since inception, the firm has extended this approach across asset classes to build one of the strongest organically grown alternative asset platforms in the world. For more information, please visit www.baincapital.com.

About GIC:

GIC is a leading global investment firm with well over US$100 billion in assets under management. Established in 1981 to secure the financial future of Singapore, the firm manages Singapore’s foreign reserves. A disciplined long- term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including real estate, private equity, equities and fixed income. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC employs more than 1,200 people across offices in Singapore, Beijing, London, Mumbai, New York, San Francisco, São Paulo, Seoul, Shanghai, and Tokyo. For more information, please visit www.gic.com.sg.

About Advent International:

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in more than 300 private equity transactions in 40 countries and as of September 30, 2015, had US$30 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 170 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors: business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom. After more than 30 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. For more information, visit www.adventinternational.com .

About Warburg Pincus:

Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has more than US$40 billion in private equity assets under management. Its active portfolio of more than 120 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 15 private equity funds, which have invested over US$55 billion in over 750 companies in more than 35 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mauritius, Mumbai, San Francisco, São Paulo and Shanghai. For more information, visit www.warburgpincus.com .

For further information, please contact:

Hema.Varlani@quest-global.com

Pramila.Krishnan@quest-global.com

mismi.lala@publicisconsultants-asia.com

About QuEST Global

For more than 20 years, QuEST Global has been a trusted global product engineering and lifecycle services partner to many of the world’s most recognized companies in the Aerospace & Defense, Automotive, Energy, Hi-Tech, Medical Devices, Rail and Semiconductor industries. With a presence in 13 countries, 55 global delivery centers and 11,450+ personnel, QuEST Global is at the forefront of the convergence of the mechanical, electronics, software and digital engineering innovations to engineer solutions for a safer, cleaner and sustainable world. QuEST Global’s deep domain knowledge and digital expertise help its clients accelerate product development and innovation cycles, create alternate revenue streams, enhance consumer experience and make manufacturing processes and operations more efficient.

Media Contact:

Kapil Singhal: kapil.singhal@quest-global.com