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AUA Private Equity Partners Consummates Sale of Water Lilies Food

WEST PALM BEACH, FL. (August 31, 2022) – AUA Private Equity Partners, LLC (“AUA Private Equity”), is pleased to announce that it has consummated the sale of Water Lilies Food, LLC (“Water Lilies” or the “Company”), a manufacturer of premium, inspired Asian cuisine to affiliates of Blue Point Capital Partners, LLC (“Blue Point”).

In less than five years, AUA played a critical role in facilitating Water Lilies’ evolution from a family-owned company to one of the leading institutionalized frozen Asian appetizer businesses serving retail and foodservice customers. AUA Private Equity assisted Water Lilies in building out and moving into its new facility in Bay Shore, NY which tripled the size of its footprint and allowed the Company to add automation and new capabilities. Under AUA Private Equity’s ownership, Water Lilies’ top line and EBITDA grew organically in excess of 3.0x.

David Benyaminy, Partner of AUA Private Equity, commented: “From the beginning, we shared a vision with Peter Lee, CEO of Water Lilies, to create a leading national Asian appetizer manufacturer driven by a relentless focus on innovation, quality and service. We are pleased to announce the sale of Water Lilies to Blue Point who we believe will be a great partner to the Lee family and the Company as it embarks on its next phase of growth.”

Andy Unanue, Managing Partner of AUA Private Equity, added: “Water Lilies represents the core of AUA Private Equity’s investment strategy – partnering with great family business owners in the consumer sector and building an institutional foundation for accelerated growth and sustainable profitability. We are extremely pleased to celebrate Water Lilies’ success and are excited for the Lee family and Company’s next chapter.”

Peter Lee, CEO of Water Lilies, added: “I cannot speak highly enough of the partnership with AUA Private Equity and the value they created for Water Lilies through its active sponsorship. From helping us build a phenomenal management team to supporting prudent operational initiatives, including our facility expansion, AUA’s support ultimately led to a great result for our management team, owners, and investors. I look forward to building upon our success with our new partners Blue Point.”

The sale transaction was led by Partner David Benyaminy, Senior Associate Nicolas Pflaum, and Analyst Trip Ewig. Harris Williams acted as financial advisor to AUA Private Equity and McDermott Will & Emery provided legal advice to the seller. Additional advisors to AUA Private Equity and Water Lilies included Cohn Reznick and Stax Inc.

About AUA Private Equity Partners

AUA Private Equity Partners is a West Palm Beach, FL based, operationally-focused, lower middle-market investment firm providing strategic capital to companies in the consumer products and services sectors with a particular focus on family-owned businesses. AUA Private Equity typically makes equity investments of $20 to $75 million in companies that generate in excess of $5 million in EBITDA. For more information on AUA Private Equity Partners, please visit

About Water Lilies

Based in Bay Shore, New York, Water Lilies is a manufacturer and provider of premium, inspired, Asian cuisine for major retailers, private label, consumer brands and foodservice operators. Founded in 1995 with a commitment to food safety, quality, and innovation, Water Lilies has established itself as a preferred partner to its customers across a variety of authentic, inspired products, with a particular focus on frozen appetizers such as egg rolls, spring rolls, potstickers, and dumplings.


AUA Private Equity Partners
David Benyaminy