Investment firm buys Livonia’s Quality Metalcraft

Quality Metalcraft Inc., the Livonia-based automotive supplier that helped to put the Chevy Volt on the map, has been acquired by a Boston private investment firm.

The Watermill Group purchased Quality Metalcraft for an undisclosed amount, according to a statement from the company.

Quality Metalcraft is a leading producer of engineered structural metal components and assemblies, providing advanced prototype, low- to medium-volume production and factory assist services to original equipment manufacturers and other specialty vehicle industries.

The supplier will remain in Livonia and has disclosed no current plans to expand the facility. All management and staff will remain in place.

Watermill said it plans to expand the company’s current capabilities.

“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,” Steven E. Karol, managing partner and founder of The Watermill Group, said in the statement. “

“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,” said Watermill adviser David Robinson, who will serve as the chairman of Quality Metalcraft.

The transaction closed June 30.

It’s the third major transaction for Watermill in less than two months. The company sold its Global Tubes to AMETEK, Inc. on May 8 and then its portfolio company Tenere Inc., acquired Mountain Molding LLC on May 4.

Quality Metalcraft was founded in 1964 and serves the automotive, aerospace and defense, heavy trucking and construction industries. It is headquartered at 33355 Glendale in Livonia.

The Chevrolet Volt underbody, Chevrolet Camaro ZL1 hood and Cadillac CTS coupe underbody all have been manufactured by Quality Metalcraft.