Carlyle Group has agreed to buy back a majority stake in Quest Global, a provider of engineering and IT services, from Bain Capital and Advent International. The deal is reportedly valued at $2 billion.

Quest Global was founded in 1997 and is headquartered in Bangalore, India. The company has over 20,000 employees and operates in over 50 countries. Quest Global provides a wide range of services, including engineering, IT, and consulting.

Carlyle first invested in Quest Global in 2011. The company sold a majority stake in the company to Bain Capital and Advent International in 2017.

The sale of Quest Global is part of a broader trend of private equity firms exiting their investments in technology companies. The tech sector has been under pressure in recent months, as valuations have come down and there has been less appetite for risk.

Carlyle is betting that Quest Global is a good long-term investment. The company has a strong track record of growth and profitability, and it is well-positioned to benefit from the continued growth of the global tech industry.

The deal is expected to close in the second half of 2023.

Here are some additional details about the Carlyle-Quest Global deal:

  • The deal is reportedly valued at $2 billion.
  • Carlyle is buying back a majority stake in Quest Global from Bain Capital and Advent International.
  • Quest Global was founded in 1997 and is headquartered in Bangalore, India.
  • The company has over 20,000 employees and operates in over 50 countries.
  • Quest Global provides a wide range of services, including engineering, IT, and consulting.
  • Carlyle first invested in Quest Global in 2011.
  • The company sold a majority stake in the company to Bain Capital and Advent International in 2017.
  • The sale of Quest Global is part of a broader trend of private equity firms exiting their investments in technology companies.
  • The tech sector has been under pressure in recent months, as valuations have come down and there has been less appetite for risk.
  • Carlyle is betting that Quest Global is a good long-term investment.
  • The company has a strong track record of growth and profitability.
  • Quest Global is well-positioned to benefit from the continued growth of the global tech industry.
  • The deal is expected to close in the second half of 2023.