SMART Financial Acquires 19 Stores in Illinois, Iowa and Texas

Financial services company has acquired 87 stores in 33 months

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Sep 16, 2019, 09:24 ET

ORLANDO, Fla., Sept. 16, 2019 /PRNewswire/ -- SMART Financial, a specialty financial services and retail company, is expanding its presence across the U.S. by acquiring 11 Illinois stores, one Iowa store and seven Texas stores. 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.

"We are excited about the opportunity to provide financial services, career opportunities and affordable household goods to communities in Illinois, Iowa and Texas," Thedford said. "This acquisition is one of our largest so far and reflects the fast pace in which SMART continues to grow."

The company recently secured an additional $80 million in funding from Comvest Partners and Crystal Financial to facilitate its acquisition growth strategy. SMART plans further expansion by acquisition as 2019 progresses.

Ernst & Young recently recognized Thedford for his leadership and the company's rapid growth, naming him its Entrepreneur of the Year for financial services in Florida.

SMART Financial Enterprises offers non-recourse, fully collateralized pawn loans and a wide variety of retail merchandise. The company's philosophy and practice of focusing on recruiting, training and incenting first-class talent is one of its key differentiators within the industry. SMART Financial 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. Visit smartfinancialent.com to learn more.