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Smart Financial Acquires 19 Stores in Illinois, Iowa and Texas
Tuesday 17 September 2019

17 September 2019 - US-based pawn shop operator Smart Financial is expanding its presence across the US by acquiring 11 Illinois stores, one Iowa store and seven Texas stores, the company said.

The company now owns and operates 87 stores across the United States and Canada all just 33 months after its founding.

Smart Financial has grown its store count by 46% through acquisitions completed this calendar year. The company is the third-largest pawn store chain in North America based on total number of locations, according to founder John Thedford.

The company recently secured an additional USD 80m in funding from Comvest Partners and Crystal Financial to facilitate its acquisition growth strategy.

Smart plans further expansion by acquisition as 2019 progresses.

Smart Financial Enterprises offers non-recourse, fully collateralised pawn loans and a range of retail merchandise.

The company operates stores in Arizona, Georgia, Illinois, Iowa, North Carolina, North Dakota, Oklahoma, South Dakota, Texas, Virginia, and three Canadian provinces.

It employs 500 team members across North America.
Details
Date Published: 17/09/2019
Target: 11 Illinois stores, one,  Iowa store and seven Texas stores
Country: USA
Sector: Wholesale/Retail
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Smart Financial
Comment:
Terms of the deal were not disclosed

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