M&A
confidence high
sentiment positive
materiality 0.75
FirstCash to acquire UK pawnbroker H&T Group for ~£297M ($394M) in cash
FirstCash Holdings, Inc.
- Total cash consideration of 650p per share plus 11p final dividend; equity value ~£297M ($394M).
- Acquisition of 285 H&T stores marks FirstCash's entry into UK pawn market; expected to be accretive to EBITDA and EPS.
- Financing via existing revolving credit facility and/or bridge loan up to £299M; credit facility covenants amended.
- Transaction approved by both boards; expected to close in H2 2025, subject to H&T shareholder and UK regulatory approvals.
- H&T directors representing ~0.57% of shares have provided irrevocable undertakings to vote in favor.