Carlyle Group invests $6 m in QuEST

By : |September 29, 2003 0

BANGALORE: Global private equity firm, The Carlyle Group has announced it has invested $ six million in Quality Engineering and Software Technologies LLC (QuEST), provider of engineering solutions for advanced technology products in the Aerospace, Automotive and Power Generation, Oil & Gas, and Industrial Product domains.

The funds will be used to grow QuEST’s infrastructure and facilities in the US and India as a part of its ongoing global expansion plan and support the company’s acquisition strategy.

This venture capital investment came from Carlyle Asia Venture Partners II, a $170 million fund that invests in technology companies in Asia and India.

QuEST founder and CEO, Ajit Prabhu said, “We welcome this strategic investment from the Carlyle Group in this tough investment environment. This funding will be used to strengthen our global team and better serve our existing customers. Our customers are looking at broadening the scope of work to include design and build, and we are expanding our operations in China to cater to their needs”


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