Fidelity Growth Partners India (FGPI), the private equity arm of Fidelity International, has taken a significant minority stake in PL Engineering, a leading engineering services outsourcing player with a focus on oil & gas, power and infrastructure. PL Engineering is a subsidiary of Punj Lloyd Limited, a leading global engineering, procurement and construction conglomerate. Through this investment, Raj Dugar, Senior Managing Director of FIL Capital Advisors (India), the private equity advisory company for FGPI, has joined PL Engineering’s Board of Directors. “We believe PL Engineering is well positioned to benefit from the strong growth in offshoring of engineering services to India. The company has a solid platform, an outstanding management team and strong track record in the attractive process engineering services segment. We are delighted to partner with PL Engineering as the company enters its next phase of growth” said Mr. Dugar. Mr. Sanjay Goel, CEO, PL Engineering said, ...