NEW WATER CAPITAL ACQUIRES LIDWORKS, A LEADING MANUFACTURER OF CUSTOM FOODSERVICE LIDS

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BOCA RATON, Fla., Sept. 9, 2026 /PRNewswire/ -- An affiliate of New Water Capital Partners ("New Water" or "the Firm"), a Boca Raton-based private equity investment firm focused on lower-middle market companies, today announced the acquisition of LidWorks, a family-owned leader in the design and manufacturing of custom food, beverage, and specialty lids.

Since its founding in 1985, LidWorks has built a reputation for quality, reliability, and innovation, offering a comprehensive range of foodservice lids for hot and cold applications. The company serves major quick-serve restaurant and convenience store national brands, as well as the food service industry's leading packaging manufacturers and distributors. LidWorks is differentiated by its flexible production platform, which provides extensive customization options at competitive prices and enables close collaboration with clients to develop products tailored to their specific needs. The Company operates facilities in Plant City, Florida, where it manufactures over two billion lids per year, supporting sustained double digit growth.

Nicholas LaRosa, Vice President at New Water, said, "LidWorks represents exactly the type of business we seek to invest behind; it fits squarely within our long-standing commitment to the food & beverage and packaging sectors. We're proud to partner with Ugo and the LidWorks management team to build on the strong foundation they've established. Looking ahead, we'll continue to drive growth through investments in additional capacity and targeted M&A, with the goal of broadening the company's capabilities and better serving our customers."

Ugo Mazzarolo, President of LidWorks, said, "Now in our 42nd year, we are proud to have worked side-by-side with our customers to develop innovative, customized lid solutions that support their needs. Partnering with New Water provides us with additional resources as we continue to execute on our business plan, including expanding our facilities, products, and team."

Stout served as financial advisor, and Reed Smith served as legal advisor to New Water. PMCF Investment Banking acted as the exclusive financial advisor to LidWorks.

About New Water Capital L.P.

New Water Capital L.P. is a private equity firm focused on lower-middle market B2B manufacturing and distribution companies in the industrials, industrial tech, food & beverage, niche engineered products and packaging industries. New Water Capital's collaborative transaction and operating model is built specifically to support companies in transition, building on their unique cultures and strengths. For more information, please visit www.newwatercap.com.

About LidWorks

Founded in 1985, LidWorks is a family-owned company based in Plant City, Florida. For 42 years, the company has been committed to designing and manufacturing the most reliable and specialized packaging designs in the industry. LidWorks offers a comprehensive line of foodservice lids, including hot and cold beverage lids, food, and specialty product lids, serving leading brands in the quick-serve and fast-casual restaurant sectors, as well as convenience store chains, food service packaging manufacturers and distributors.

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Daniel Yunger / Simone Leung

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[email protected] / [email protected]

SOURCE New Water Capital

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<p>BOCA RATON, Fla., Sept. 9, 2026 /PRNewswire/ -- An affiliate of New Water Capital Partners ("New Water" or "the Firm"), a Boca Raton-based private equity investment firm focused on lower-middle market companies, today announced the acquisition of LidWorks, a family-owned leader in the...</p>

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