Simply Asset Finance Reaches £150m Milestone in Scotland with Opening of New Glasgow Office

• Simply achieves new lending milestone as it strengthens its commitment to Scottish SMEs
• Regional growth supported by government infrastructure investment and rising demand for SME finance
• New Glasgow city centre office opens to drive regional expansion

Simply Asset Finance has announced a significant milestone in Scotland, having now provided £150 million in funding to SMEs across the region since the launch of its Scottish office in 2022.

The company has seen strong momentum north of the border, supporting more than 900 Scottish businesses to date in key sectors such as construction, transport, and manufacturing. In 2024 alone, Simply’s origination volumes in Scotland reached £27 million, funding 529 assets for over 230 customers.

This growth has been partly driven by government investment in major infrastructure schemes – including the A9 Dualling, large-scale construction projects, upgrades to the national power grid, and oil and gas decommissioning – all of which have created opportunities for SMEs and increased the demand for flexible finance.

Landmark deals have also contributed to this success, including Simply’s backing of the management buyout of AB2000 – one of Scotland’s best-known plant hire companies. Established in 1995, the Glasgow-based firm was acquired by Quattro Group in 2018 and rebranded as AB2K, but has now returned to Scottish ownership through a deal supported by Simply.

The transaction involved a multi-million-pound asset refinance arranged by Simply alongside an ABL transaction, enabling long-standing employees Stuart Gardner and Mark Kirkwood to take control of the company as they work to revive the iconic AB2000 brand.

Building on this success, Simply’s Scottish team has now expanded to ten members and relocated to a new office in Glasgow’s city centre. The new base at Kirkstane House, a landmark site within the city’s financial district, places Simply at the heart of Scotland’s business community, alongside a diverse range of financial services providers.

With a presence across the country, the team adopts a locally driven, on-the-ground approach to lending. The business continues to invest in recruiting and developing local talent, underlining its long-term commitment to both clients and the wider regional economy.

William Devine, Head of Scotland at Simply Asset Finance, said: “Reaching £150million 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, while continuing to back great businesses like AB2000 and the entrepreneurs who make Scotland thrive.”

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.”