Weeks after announcing that it will get out of the market for small amount credit contracts, Cash Converters has made a push for growth in a new direction, with an investment in its United Kingdom store business. The company has entered into a sale and purchase agreement to acquire Capital Cash Ltd, which is the biggest franchise group operating under the Cash Converters brand in the United Kingdom. Cash Converters is the master franchisor of 188 stores in the UK, of which 42 are operated by Capital Cash. It has been in business for 20 years. The deal is worth A$24.7 million. Capital Cash generated A$5.1 million of EBITDA in the 2021/22 financial year. Cash Converters said in a statement that the acquisition would give it “a corporate store footprint in the UK and an experienced management team who will continue to grow the Cash Converters business”. Last month, the company said new consumer credit law would limit the prospects for its SACC business. It booked a $110 million asset impairment and announced it would stop selling SACCs. Financial Sector Reform Act 2022, when it takes effect in June, prohibits lenders from entering into a SACC if the repayments under the contract would be more than 10 per cent of the borrower’s income.  Cash Converters modelled the regulatory impact of the new protected earnings amount on its existing SACC product and concluded there would be a 44.3 per cent reduction in volume in its personal finance business and a 68.7 per cent reduction in its corporate store segment. SACCs accounted for $82 million of the company’s $255.9 million loan book and grew 19 per cent during the six months to December.