FirstCash Holdings announced an agreement to acquire H&T Group plc, the leading operator of pawn stores in the United Kingdom. This strategic transaction marks FirstCash's entry into the UK market, expanding its geographic footprint and enhancing its global scale. H&T operates 285 locations across England, Scotland, and Wales.
Under the terms of the agreement, FirstCash will pay cash consideration of 650 pence for each H&T share, plus a final dividend of 11 pence per share to H&T shareholders. The total equity value of the acquisition is approximately £297 million, or $394 million USD.
The acquisition is expected to be meaningfully accretive to FirstCash's EBITDA and EPS, providing long-term strategic and financial benefits. FirstCash intends to finance the acquisition by drawing down on its existing U.S. revolving credit facility and has secured a backstop £299.0 million bridge credit agreement.
The transaction has been unanimously approved by the Boards of Directors of both companies and is subject to approval by H&T's shareholders and customary regulatory approvals in the United Kingdom. The acquisition is anticipated to close in the second half of 2025.
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