NEW YORK (S&P Global Ratings) May 14, 2025--S&P Global Ratings today said FirstCash Holdings Inc. (FirstCash)'s announced acquisition of U.K.-based pawn operator H&T Group will add scale and geographic diversity. The acquisition will be cash-funded, with a total equity value of approximately $394 million, and is expected to close in second-half 2025. We expect FirstCash to also assume H&T's debt, which was about £69 million as of year-end 2024. H&T Group is the U.K.'s largest pawnbroker with 285 stores. The transaction represents FirstCash's entry into the U.K. pawn market, expanding the company's geographic footprint and bringing its global store count to over 3,300. Because the acquisition is complementary to FirstCash's existing business, we expect integration risks to be well managed.
