On 07 October 2026, Eurazeo agreed to acquire a majority stake in MIYA Water, a Madrid-based company specializing in the reduction of non-revenue water, through its Eurazeo Planetary Boundaries Fund. The financial terms, the identity of the seller, and MIYA’s revenue and earnings have not been disclosed.
This transaction marks Eurazeo Planetary Boundaries Fund’s fourth investment in 18 months and its first water platform. MIYA’s founders and managers will continue as co-investors while overseeing the company’s operations. Eurazeo plans to pursue selective acquisitions to expand its offerings. MIYA is the non-revenue water services business that remained after Antin Infrastructure Partners, its owner since 2020, separated Indaqua, which operates the group’s Portuguese concessions. Antin is now selling Indaqua independently.
Eurazeo estimates that 126 billion cubic meters of water are lost each year to non-revenue water, and it sizes the annual market for non-revenue water-reduction solutions at approximately US$56 billion. The deal signals that water efficiency is emerging as a market for investable, infrastructure-adjacent services.
