Bridgepoint's Miya attracts offers from EQT, IFM, KKR, BlackRock – report

The offers are understood to be around or above €600m.

Bridgepoint hired financial adviser Citi in June to manage the auction. Final offers are expected at the next round, which will be held by the end of July.

Bridgepoint acquired Miya from Israel-based Arison Investments in January 2019 via Bridgepoint Europe VI, a €5.7bn vehicle that typically invests €125-500m in companies with enterprise values of €200m-1bn.

Miya was founded by businesswoman and entrepreneur Shari Arison in 2008 as a private subsidiary of Arison Investments. In 2016, the company acquired Indaqua, a Portuguese private water and wastewater operator in north-west Portugal, covering an area of 1,000 square kilometres with a distribution network that reaches more than 600,000 residents.

Miya provides integrated water efficiency services to public and private utilities globally and specialises in complex, turnaround water efficiency projects.

In addition to the Indaqua business, Miya also has operations in Spain, Brazil, Jamaica, the Bahamas, Angola, Botswana, South Africa and the Philippines. The company has also recently won a contract for a water operation in Puerto Rico, according to press reports.

Miya employs 600 staff and is headquartered in Madrid, with offices in Luxembourg and Jamaica.

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