Simply Asset Finance hits £150m of funding to Scottish SMEs

Simply Asset Finance has delivered £150m of funding to small and medium enterprises (SMEs) in the region since first opening its Scottish office in 2022.

Simply said it observed strong momentum in Scotland supporting more than 900 Scottish businesses to date across key sectors including construction, transport and manufacturing.

In 2024, organisation volumes in Scotland grew to £27m as the business funded 529 assets for more than 230 customers.

This growth in Scotland has, in part, been enabled by Government investment in infrastructure projects – such as the A9 Dualling, large construction projects, along with ongoing power grid upgrades across the country and oil & gas decommissioning – aimed at creating opportunities for SMEs and driving demand for flexible finance.

Growth has also been driven by deals, such as Simply’s support for the management buyout of AB2000, the plant hire specialists.

Founded in 1995, the Glasgow-based business was acquired by Quattro Group in 2018 and renamed AB2K but recently returned to Scottish ownership through a deal backed by Simply.

The transaction included a multimillion-pound asset refinance by Simply alongside an ABL transaction and helped longstanding employees Stuart Gardner and Mark Kirkwood take ownership of the company as they look to restore its AB2000 brand.

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