Case Summary: SMART Financial

SMART Financial

$80MM Senior Credit Facility


SMART is a holding company for operating subsidiaries with over 60 pawn shop locations across eight states in the United States and three provinces in Canada. SMART was formed in 2016 by John Thedford in partnership with a financial sponsor to consolidate the fragmented industry.


In order to execute a pending acquisition and pursue additional acquisition opportunities, SMART needed a larger facility with more attractive terms.


Crystal provided an upsized $80.0MM Senior Credit Facility comprised of a $40.0MM Term Loan and $40.0MM Delayed Draw Loan. Proceeds from the facility will be used to refinance existing debt, reduce the cost of capital, finance an acquisition and provide capital to support SMART’s roll up strategy.