Eurazeo has concluded an agreement to acquire a majority stake in Miya Water, a specialist in combating water losses
The group's impact fund targets the reduction of water losses in distribution networks. The chosen structure maintains Miya's founders in the capital and at the helm of the company.
A majority agreement that keeps the founders in control
Eurazeo has concluded, through its Eurazeo Planetary Boundaries Fund (EPBF), an agreement to acquire a majority stake in Miya Water. The transaction has not yet been completed: its finalization remains subject to customary conditions. The Paris-based group presented the operation as part of its environmental impact investment strategy.
The chosen structure leaves significant room for the current management. Miya's founders and management team will retain strategic control of the company. They will also remain significant co-investors alongside EPBF. The press release cites Noam Komy, Chief Executive Officer of Miya, as well as Guy Yasur among the fund's counterparties.
Miya operates in a specific segment of water management: the reduction of non-revenue water. This term designates water produced but lost before reaching the consumer, due to leaks, theft or meter errors. The company sells its solutions to water network operators, with a dual objective: limiting these lost volumes and optimizing resource management.
Founded in 2007, Miya claims to have completed more than 200 projects across five continents. Its operations cover Europe, the Middle East, North and South America, the Caribbean, Africa, Southeast Asia and the South Pacific islands. According to EPBF's co-heads, its business model is based on performance, that is, on measurable results for customers.
A market estimated at €50 billion per year and an acquisition strategy
The case is based on high loss volumes. According to the press release, non-revenue water represents approximately 126 billion cubic meters annually, enough to meet the annual water needs of hundreds of millions of people. The global market for solutions intended to reduce these losses is estimated at nearly 50 billion euros per year: this figure measures the size of the target market, not the price of the transaction.
Eurazeo has detailed a multi-faceted support plan: strengthen the company and its performance, further structure its organization and conduct targeted acquisitions in a market that the group describes as still fragmented. The EPBF team also intends to support Miya's expansion into new international markets.
Noam Komy places the challenge beyond mere scaling. Miya's Chief Executive Officer speaks of building "an international platform for water-related services", driven by "rigorous organic growth" and targeted acquisitions.
For EPBF, the investment touches three of the planetary boundaries that form the basis of its strategy. These are freshwater, through reduced extraction, reduced treatment and reduced pumping, and pollution, through the diversion of organic pollution from rivers to sanitation systems. This is complemented by climate, through avoided greenhouse gas emissions.
EPBF's fourth investment, in a sequence of group transactions
Miya constitutes EPBF's fourth investment. Its co-heads, Erwann Le Ligné and Wilfried Piskula, indicate that they completed it "in eighteen months" and specify that they identified and approached Miya from the fund's launch. The three previous transactions involved biocontrol, geothermal energy and circular economy applied to computing.
The agreement adds to a series of recent announcements by the group. On September 16, 2026, Eurazeo had finalized its majority takeover of Netco Group, a European maintenance service provider for conveyor systems, a transaction initiated in April 2026 with Ardian and Netco's management team. On October 1, 2026, the group announced the opening of its first office in the Middle East, in Abu Dhabi.
