The Watermill Group completed its second investment in the automotive industry with the acquisition of Experi-Metal (EMI), a provider of prototyping and complex metal-formed parts and assemblies for the automotive, aerospace and other industries.

Cerberus Business Finance and the Business Credit Division of PNC Bank are lenders in the transaction. Cowen & Company served as sole debt placement agent. Goodwin Procter provided legal counsel to Watermill. Quarton International represented EMI.

“The automotive industry is in the midst of a monumental shift. Technology-driven trends are transforming consumer appetite and disrupting an industry that has remained mostly unchanged for decades,” said Steven E. Karol, managing partner and founder of the Watermill Group. “By operating collaboratively, EMI and QMC will offer unparalleled benefits to traditional OEMs, tier-one suppliers and new entrants to the market, all of whom seek the creativity, speed and quality that drives success today and will continue to drive market transformation.”

EMI specializes in highly engineered, metalformed prototypes, sub-assemblies, full Body-In-White (BIW) assemblies and bridge production, with a proficiency in designs that are complex in geometry and often utilize advanced materials. A broad range of blue chip and start-up customers across automotive, aerospace, defense and the alternative energy sectors value EMI’s attention to excellence; products made by EMI pass the most rigorous quality, performance and safety standards.

The Watermill Group is a private investment firm that helps companies achieve their full potential through strategic transformation.