Global investment firm Carlyle (CG) and Quest Global, one of the world's leading engineering services firms, today announced they have reached a definitive partnership agreement whereby Carlyle will be acquiring a significant minority stake in the company. Equity for this transaction will come from funds managed and advised by entities affiliated with Carlyle Asia Partners.
As part of this transaction, current investors Bain Capital and Advent International will exit; Quest Global will repurchase its company shares; and
Established over 25 years ago and headquartered in
"At Quest Global, we believe engineering has the unique opportunity to solve the problems of today that stand in the way of tomorrow – to create a brighter future. It was a great value-added partnership with Carlyle the first time around, and I look forward to working with Carlyle again, to propel us in the journey ahead. Together, I am confident we will deliver on our mutual commitment to provide cutting-edge engineering solutions to our clients around the world, while preserving our entrepreneurial culture," said
"We are thankful for the partnership of Bain and Advent for their instrumental role in advancing the company's purpose and growth trajectory. Their strategic insights and unwavering support have been invaluable," added
The transaction remains subject to satisfaction of certain conditions precedent to closing, including customary regulatory approvals.
Barclays, J.P. Morgan, BNP Paribas and Latham & Watkins served as advisors to Quest Global on the transaction; and Deutsche Bank, Clifford Chance, KPMG and Trilegal served as advisors to Carlyle. Barclays, BNP Paribas, Citibank, Deutsche Bank, HSBC, ING, J.P. Morgan, Nomura, Standard Chartered Bank, Allen & Overy and Linklaters helped arrange financing for the transaction.
Carlyle's buyout funds, including Carlyle Asia Partners, have well-established experience investing in the technology and business services sector, and have invested over
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