Prime Financial Group Ltd (ASX: PFG) has announced binding agreements for two acquisitions within its Wealth and Business segments. Prime Financial Group is an Advisory, Capital & Asset Management Group, operating across four key areas in Accounting & Business Advisory, Wealth Management, SMSF and Capital in its three core locations of Melbourne, Sydney and Brisbane. While the company does not consider the transactions to be market sensitive under ASX Listing Rule 3.1, it has chosen to disclose the information to keep the market informed.
The first acquisition involves adding a new Partner and three team members to the Business segment through the purchase of accounting clients, representing approximately $1,200,000 in annual revenue. The total consideration for the initial revenue is $1,322,700, with a maximum payable of $2,522,700 contingent on future revenue growth. Up to 4,301,814 shares will be issued in four tranches as part of the consideration. The first tranche of 2,551,814 shares is expected to be issued upon completion around 31 October 2025. The second acquisition adds approximately $500,000 in annual revenue to the Wealth segment and welcomes a new Partner. The total consideration payable is up to $1,500,000, based on generating revenue of $1,500,000 by year three. A maximum of 2,625,000 shares will be issued in up to four tranches, with the first tranche expected within three months of the first anniversary of completion, also expected around 31 October 2025.
Prime Financial has also executed a non-binding indicative offer (NBIO) for the acquisition of a company providing investment research and asset/fund management services. This potential acquisition would complement Prime’s Wealth segment, similar to the recent acquisition of Lincoln Indicators. If the acquisition proceeds, the target is expected to generate approximately $4 million per annum in revenue. The potential acquisition is expected to be funded 75% cash and 25% shares, with payments made over three to four years. The cash consideration would be funded from the company’s debt facilities and cash reserves. The NBIO grants exclusivity to Prime and remains subject to due diligence, agreement of final terms, and execution of binding documentation.
Finally, Prime Financial announced the appointment of Sharon Papworth as Chief Financial Officer (CFO), effective 27 October 2025. Papworth brings over 25 years of experience in leadership, strategic planning, financial control, and governance across various industries, including professional services, FMCG, media, healthcare, wholesale, distribution, marketing, and advertising.
