PFG.ASX: Altor Capital meets maintainable EBITDA consideration hurdle

Altor Capital meets maintainable EBITDA consideration hurdle

Stock	Prime Financial Group Ltd (PFG.ASX)
Release Time	7 Feb 2025, 9:13 a.m.
Price Sensitive	Yes

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Altor Capital meets maintainable EBITDA consideration hurdle

Key Points

Altor Capital Pty Ltd (Altor) acquired by Prime Financial Group Ltd (Prime) in February 2024
Altor has successfully integrated into Prime's 'OneConnected' model
Altor achieved its maintainable Earnings Before Interest, Tax, Depreciation & Amortisation (EBITDA) target in the first 12 months

Full Summary

Prime Financial Group Ltd (ASX:PFG) has announced that Altor Capital Pty Ltd (Altor), which was acquired by Prime in February 2024, has successfully achieved its maintainable Earnings Before Interest, Tax, Depreciation & Amortisation (EBITDA) target in the first 12 months of Prime's ownership. This milestone was originally set to be achieved within up to three years, but Altor has met the target in the first year. The announcement states that Altor has seamlessly extended Prime's capabilities through the integration into Prime's 'OneConnected' model. Prime continues to pursue EPS-accretive acquisitions, such as Altor, that add increased capabilities and scale to the business. The company also has a Non-Binding Indicative Offer (NBIO) signed for a business operating in the Wealth segment, as previously advised on 26 November 2024.