Barianza Projects to Double Its Machine Fleet in 2026 with a Strategic Investment of €40 Million
Spanish private equity firm Formentor Capital has launched an ambitious consolidation plan through Barianza, currently the fifth-largest slot machine operator in Spain, with the goal of becoming a top-three player in the sector by 2028.
Barianza, the gaming machine operator backed by Formentor Capital, has announced a strategic growth plan aimed at doubling its fleet to over 2,200 machines by the end of 2026, backed by a €40 million investment. The company currently manages around 1,100 machines and reported revenues of €24 million in its last fiscal year.
The plan sets ambitious targets for 2026: revenues of €48 million and EBITDA of €14 million, representing a near doubling of the business in under two years.
A key enabler of this expansion is GRAZIELLA, Barianza's proprietary technology platform, which provides real-time monitoring of the entire machine fleet, operational efficiency tools, and full transparency across the business. GRAZIELLA allows the company to integrate acquired operators quickly while maintaining performance standards across all locations.
To fund the growth plan, Barianza has secured a €12 million credit line from Banco Santander, complementing a €15 million investment from Grup Peralada, the Catalan hospitality and entertainment group. These financial commitments underpin an aggressive acquisition strategy focused on regional operators across Spain.
Looking further ahead, Barianza has set a target of 4,000 machines under management by 2028, supported by a €150 million consolidation fund. The company positions itself as the vehicle of choice for independent operators seeking a professional partner in an increasingly regulated and competitive market.