Prime Financial Group secured a binding agreement to acquire 100% of Equity Plan Management and Remuneration Strategies, both well-regarded entities in remuneration and employee share plan management.

The acquisition aligns with Prime's growth strategy, potentially adding over $2.2 million in revenue and $1.3 million in EBITDA annually.

In addition to the EPM acquisition, Prime has launched a fully underwritten entitlement offer to raise approximately $3.3 million.

The funds will finance the acquisition and provide working capital. The issue price is set at 20 cents per share.

Prime also disclosed the execution of a non-binding indicative offer for another Melbourne-based business in its Wealth segment.

The potential acquisition aims to bolster Prime's market position by adding approximately $12 million in revenue for FY24, funded through a mix of cash and shares.