Alta West Mortgage Capital has acquired Premiere Home Mortgage, one of Canada’s leading alternative lenders.

Financial terms were not disclosed.

“For both companies, this acquisition will optimize economies of scale, realize enhanced efficiencies, and broaden our respective product offerings through coalescence,” said George Botros, CEO of Alta West. “Our alignment of values ensures the lasting positive impact of this deal for all stakeholders.”

Founded in 1991, Calgary-based Alta West provides alternative lending and mortgage investment solutions across Alberta, British Columbia and Ontario.

“Our combined synergies will surely expand business operations, drive growth and diversification, and create greater long-term value for all stakeholders, particularly our valued investor and broker partners,” said John Mercuri, president and CEO of Premiere.

Founded in 1985, Premiere specializes in equity-based residential financing for borrowers outside the traditional banking system.

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