Simply Asset Finance hits £150m milestone in Scotland

Simply Asset Finance has announced it has now delivered more than £150 million in funding to Scottish SMEs, marking a major milestone as the specialist lender expands its presence in the region with a new office in Glasgow city centre.

Since opening its first Scottish office in 2022, Simply has supported over 900 businesses across sectors including construction, transport and manufacturing. Momentum has accelerated in 2024, with origination volumes in Scotland rising to £27 million, funding 529 assets for more than 230 customers.

The business says the growth reflects both strong SME demand for finance and wider economic drivers, including government investment in infrastructure projects such as the A9 Dualling, power grid upgrades, oil and gas decommissioning, and major construction schemes.

Simply has also played a role in landmark transactions, most notably supporting the management buyout of AB2000, one of Scotland’s best-known plant hire specialists. The multimillion-pound refinancing and ABL transaction enabled long-standing employees Stuart Gardner and Mark Kirkwood to take ownership of the Glasgow-based company, restoring its iconic AB2000 brand.

To support this growth, Simply’s Scottish team has expanded to ten people and relocated to a new base at Kirkstane House in Glasgow’s financial district. The office places Simply at the heart of Scotland’s business community, among a diverse network of financial services providers.

William Devine, Head of Scotland at Simply Asset Finance, said: “Reaching £150 million in lending volumes is a proud achievement for us.

“It underlines our commitment to supporting the local businesses driving the Scottish economy forward, and to Simply being the funding partner that helps them achieve their growth ambitions.

“The opening of our new Glasgow office is a statement of our intent – we’re embedding ourselves in the financial heart of the city, in a building that once represented the finance old guard, and now represents a new chapter in how we can support Scottish SMEs. Looking ahead, we’re looking to double lending volumes to £300m within the next two years.”

Mike Randall, CEO at Simply Asset Finance, added: “Scotland is a hugely important market for Simply, and the achievements of our team here speak volumes about the opportunities that exist for SMEs when they have the right support.

“From landmark funding deals to our investment in talent and presence, we’re committed to helping Scottish businesses unlock growth and realise their potential.”