--- title: "Exclusive: New Water Capital acquires LidWorks, will pursue plastic packaging add-ons" url: https://burnaze.com/article/5f084185-b3be-4f02-bd1b-9ba44d25c683 source: "PE Hub" original_url: https://www.pehub.com/exclusive-new-water-capital-acquires-lidworks-will-pursue-plastic-packaging-add-ons/ author: "Rafael Canton" category: "Suppliers" industry: "Franchise Industry" segment: "Suppliers" topics: ["Finance & M&A"] published: 2026-09-09T11:00:38.000Z modified: 2026-09-09T11:15:26.009Z image: https://media.pehub.com/uploads/2026/09/GettyImages-1182125656-12.jpg --- # Exclusive: New Water Capital acquires LidWorks, will pursue plastic packaging add-ons **TL;DR:** New Water Capital has acquired LidWorks, a custom lid manufacturer serving major QSR and convenience store chains. LidWorks has experienced double-digit revenue growth over the last three years and supplies over two billion lids per year. *By Rafael Canton, originally published in PE Hub on 2026-09-09. [Read the original](https://www.pehub.com/exclusive-new-water-capital-acquires-lidworks-will-pursue-plastic-packaging-add-ons/).* ## Key facts - New Water acquires LidWorks - LidWorks supplies 2 billion lids/year - Double-digit revenue growth over 3 years ## Story Based in Plant City, Florida, LidWorks is a family-owned designer and manufacturer of custom food and beverage lids. Founded in 1985, LidWorks supplies quick service restaurants (QSRs), fast-casual restaurants, convenience store chains and manufacturers and distributors in the food service industry. The company counts Burger King, 7 Eleven and Jamba Juice among its customers. LidWorks operates a facility in Plant City, where it manufactures over two billion lids per year. ## Growth strategy > “What LidWorks has done over the last 40 years is build a flexible, unique production model where they can provide customized lids for different customers at very competitive prices,” LaRosa said. “That’s a unique differentiator.” LidWorks has experienced double-digit revenue growth over the last three years, he said. To continue that upward trajectory, New Water plans to make add-ons. “We’re going to focus on any other businesses that are custom packaging,” LaRosa shared. “It includes lids like we do today, but it will expand the company into other plastic packaging as well.” Other priorities for the growth strategy include finding a second production facility that’s either in the Northeast or on the West Coast, and pursuing smaller and emerging QSRs who are grabbing market share from more established chains. “We will be looking to bring on more salespeople and investing in capacity to do that,” LaRosa said. “But that segment of the market is going to be our major organic focus. To the company’s credit, that’s what they’ve been doing, and they’ve been growing above market already.” ## New water investments Family-founder businesses make up 90 percent of the investments New Water has made. The firm targets lower-mid-market businesses in three sectors: B2B, manufacturing and distribution. The firm’s strategy “spans a lot of different markets, industrial, packaging, food and beverage, industrial tech. Food and packaging is about half of our portfolio, and it’s been a major focus for us.” Recent New Water investments in food packaging include the acquisition of Gravis, a bulk packaging business for manufacturers. The Gravis platform was initiated in 2022 when New Water acquired St Louis-based Bulk Lift International. After making four add-on deals, the firm rebranded the combined business to Gravis in 2024. In 2025, New Water acquired packaging distributor Gamber Container Company as part of a larger deal involving honey producer Dutch Gold Honey. Based in Lancaster, Pennsylvania, Gamber makes containers for honey, syrups and other liquids. In a competitive food and beverage landscape, packaging can be a differentiator that helps a brand stand out, LaRosa said. Another trend driving interest in food and packaging has been the growing importance of US manufacturing. “The prices are more competitive. But the certainty of what you’re getting and the price certainty is becoming more important to QSRs and retailers.” ## Entities - private equity (topic) - Finance (sector) - Burger King (company) - 7-Eleven (company) - PE Hub (publication) - Jamba Juice (company) - Rafael Canton (person) - New Water Capital (investor) - LidWorks (company) - New Water Capital acquisition of LidWorks (deal) - Gravis (company) - Gamber Container Company (company) --- Originally reported by Rafael Canton, PE Hub (https://www.pehub.com/exclusive-new-water-capital-acquires-lidworks-will-pursue-plastic-packaging-add-ons/). Summarized by Burnaze (https://burnaze.com/article/5f084185-b3be-4f02-bd1b-9ba44d25c683).