LIVONIA —The Watermill Group, a private investment firm based in Lexington, Mass., today announced the acquisition of Livonia-based Quality Metalcraft Inc., a producer of engineered structural metal components and assemblies, providing advanced prototype, low-to-medium volume production and factory assist services to automotive and other specialty vehicle industries. Terms of the agreement were not disclosed.
“We have been impressed with QMC’s ability to deliver its products quickly and with exceptional service levels, without compromising quality or precision,” says Steven E. Karol, managing partner and founder of The Watermill Group. “Our vision is to help QMC strategically expand these capabilities to enable their customers to bring better designed, higher quality and safer vehicles to market.”
Karol say QMC has forged longstanding relationships with leading OEMs and Tier-1 suppliers in diverse industries. In the automotive industry, he says QMC has differentiated itself with a focus on prototyping and by providing low-to-medium volume production solutions for automakers’ niche, derivative and limited-edition vehicles. “These innovative assets position QMC as one of the few suppliers capable of delivering full body-in-white prototypes used in crash testing and other safety and design evaluation programs,” Karol says.
“In the last decade, QMC has built the platform and infrastructure for dramatic growth, through strategic hires and focused investments in robotics, automation and engineering,” says Kurt Saldana, CEO of QMC. “We’re eager to bolster that growth with Watermill’s support, and to continue to deliver the products and services that our market-leading customers value so greatly.”
Watermill adviser David Robinson will serve as the chairman of QMC, and adds: “Watermill will help QMC develop a long term strategy to deepen the company’s unparalleled commitment to service, while also driving operational improvements throughout the organization. Together, Watermill and QMC management will further strengthen the speed and quality of the quick turn work that is so highly valued by QMC’s leading OEM customers.”
The QMC acquisition marks Watermill’s third transaction in less than two months, following the sale of Global Tubes to AMETEK, Inc. and the acquisition of Mountain Molding LLC by Watermill’s portfolio company, Tenere Inc.