QuEST Global Services Pte, a provider of outsourced engineering solutions, has acquired the engineering services division of UK-based GKN Aerospace Services Ltd for an undisclosed sum, the company has said in a statement. The Bangalore-based group has also entered into a long-term agreement to provide the engineering skills and resources to support GKN Aerospace’s long-term growth strategy.
Under this deal, QuEST will operate as a strategic partner of GKN Aerospace and many of its customers worldwide. GKN Aerospace will also retain its 200-plus engineers who will help it grow its core engineering skills, necessary to lead future programmes and technology developments.
Incorporated in 1830, GKN Aerospace (formerly Westland Aerospace) specialises in the design and manufacture of composite and metallic technologies for military and civil markets, as well as for the aviation industry. It also caters to commercial aircraft, single aisle, regional and turbo prop aircraft, business jet, military transport, rotary wing and unmanned aerial vehicle markets. GKN Aerospace operates as a subsidiary of GKN Plc., a global engineering business with operations across 30 countries.
Founded by Aravind Melligeri and Ajit Prabhu 12 years ago, QuEST had raised $6 million from Carlyle growth fund in 2003. The promoters bought back the stake in 2007, backed by a line of credit from ICICI Bank. However, in December last year, QuEST raised $75 million from private equity major Warburg Pincus by selling a minority stake.
The QuEST Global group consists of QuEST Global Engineering, QuEST Global Manufacturing and QuEST Global SEZ. It has over 2000 employees and delivery centres in India, Japan, the USA, Italy, Germany, France, Spain and the UK. The group services customers in aerospace and defence, aero engines, power generation, oil & gas and industrial products, and specialises in establishing dedicated low-cost engineering centres for global engineering majors. QuEST counts players like Boeing, Rolls Royce and EADS among its key clients.
“This acquisition will enhance our engineering capability close to our customers in Europe. We are very pleased to bring rich engineering talent from the UK and Australia as a result of acquiring this asset from GKN,” said Ajit Prabhu, CEO of QuEST Global Engineering.
“We are confident that QuEST has the necessary focus and critical mass in the engineering services sector to provide GKN Aerospace with flexible and cost-effective access to the engineering skills necessary to support GKN Aerospace’s ambitious growth strategy,” Phil Swash, president & CEO (aerostructures, Europe), GKN Aerospace, commented on the deal.
