LidWorks, based in Plant City, Florida, has designed and manufactured custom food, beverage and specialty lids for quick-serve and convenience store brands since 1985. New Water Capital has acquired the family-owned company, which manufactures more than two billion lids per year and has recently posted double-digit growth. New Water plans to invest in additional capacity and pursue targeted M&A to expand Lid Works’ capabilities. Nicholas La Rosa, vice president at New Water, stated the acquisition fits the firm's commitment to the food & beverage and packaging sectors. The company serves major quick-serve restaurant and convenience store brands, as well as leading foodservice packaging manufacturers and distributors. Stout served as financial advisor and Reed Smith served as legal advisor to New Water. PMCF Investment Banking served as exclusive financial advisor to Lid Works.

New Water Capital 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. Editor's note: This news brief was produced with the assistance of artificial intelligence.