Prime Financial Group (ASX:PFG) said Altor Capital achieved maintainable earnings before interest, tax, depreciation, and amortization in the first year of Prime's ownership of the firm, according to a Friday Australian bourse filing.
Altor had up to three years to achieve the EBITDA target, which was achieved in a year. It acquired the alternative asset fund manager on Feb. 12, 2024, the filing said.
Prime added that it has a nonbinding indicative offer signed for a firm operating in the wealth business. It plans to make more acquisitions that add increased capabilities and scale to the firm.
Prime's shares rose 4% in recent trading on Friday.
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