#USA #Boca Raton #Foodservice #New Water #LidWorks

New Water Capital Acquires LidWorks

In a strategic move to expand its presence in the foodservice and packaging markets, New Water Capital Partners, a private equity firm based in Boca Raton, Florida, has announced the acquisition of LidWorks. This family-owned company has been a pioneer in designing and manufacturing custom food, beverage, and specialty lids since its inception in 1985.

LidWorks: A Leader in Foodservice Lid Manufacturing

LidWorks has established itself as a leading supplier in the foodservice industry, known for its high-quality and innovative products. With an impressive production capacity, the company manufactures over two billion lids annually from its Plant City, Florida facility. This extensive output supports its sustained double-digit growth trajectory and positions LidWorks as a go-to partner for many national brands in the quick-service restaurant and convenience store sectors.

The company’s flexible production platform is a key differentiator, allowing for a wide range of customization options at competitive prices. By closely collaborating with clients, LidWorks tailors products to meet specific demands, ensuring that customer needs are met effectively.

Insights from New Water Capital

Nicholas LaRosa, Vice President at New Water, expressed enthusiasm about the acquisition, stating that LidWorks aligns perfectly with their investment strategy in the food and beverage industry. He emphasized the firm's commitment to nurturing businesses within their portfolio to drive growth. “We’re proud to partner with Ugo and the LidWorks management team to build on the strong foundation they’ve established,” he remarked. The focus will be on driving growth through investments in additional capacity and mergers and acquisitions aimed at expanding the company’s capabilities further.

Leadership Comments from LidWorks

Ugo Mazzarolo, President of LidWorks, highlighted the significance of this partnership, noting that it brings essential resources to execute their ongoing business plan. “Now in our 42nd year, we're proud to have worked side by side with our customers to develop innovative, customized solutions that support their needs,” said Mazzarolo. With the backing of New Water, LidWorks plans to enhance its facilities, broaden its product range, and expand its workforce, paving the way for future growth.

A Partnership Built on Strengths

The transaction marks an important milestone for LidWorks. The company has consistently delivered reliable and specialized packaging solutions, making it a favored choice among foodservice professionals. By coming under the New Water umbrella, LidWorks is poised for accelerated growth, bolstered by increased investment and strategic support.

Advisors played a significant role in this transaction; Stout served as the financial advisor to New Water, while Reed Smith acted as legal counsel. On the other hand, PMCF Investment Banking provided exclusive financial advisory services to LidWorks.

About New Water Capital

New Water Capital L.P. is a private equity firm focused on lower-middle market business-to-business manufacturing and distribution companies, including niches in industrials, food and beverage, and packaging industries. The firm supports companies in transition by building on their unique cultures and operational strengths.

About LidWorks

Founded in 1985, LidWorks has made a significant mark in the industry with its commitment to quality and innovation. The company offers a broad line of foodservice lids, covering hot and cold applications, and serves major names in the quickly evolving foodservice landscape. As they move forward under new management, LidWorks is set to further solidify its reputation as a leader in providing reliable lid solutions.

This acquisition not only signs a new chapter for LidWorks but also reflects New Water’s ambition to deepen its involvement in essential sectors such as foodservice and packaging, positioning both companies for growth in the years to come.