New Water Capital has acquired US foodservice packaging manufacturer LidWorks, which designs and manufactures custom lids for food, beverage and speciality applications.
LidWorks was founded in 1985 and operates from Plant City, Florida, where it manufactures more than 2 billion lids per year.
The company, which was family-owned prior to the acquisition, supplies quick-service restaurant and convenience store brands, as well as foodservice packaging manufacturers and distributors.
‘Strong foundation’
Nicholas LaRosa, vice-president at New Water, said the acquisition fits the investment firm’s focus on key packaging-related markets.
“LidWorks represents exactly the type of business we seek to invest behind,” he said. “It fits squarely within our longstanding commitment to the food and 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 mergers and acquisitions, 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, customised lid solutions that support their needs.
‘Additional resources’
“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.”
New Water Capital is a private equity firm focused on lower-middle-market business-to-business manufacturing and distribution companies, including businesses in the packaging sector.
The acquisition comes as beverage bottles and caps face increasing scrutiny over their collection and recycling.
More than 2.2 million plastics beverage bottles and caps were collected during Ocean Conservancy’s 2025 International Coastal Cleanup, while governments in the US and Europe are introducing measures including deposit return schemes, Extended Producer Responsibility and requirements for beverage caps to remain attached to bottles.
