Amicus Asset Finance has reached an agreement with its senior debt providers to grow its book to over £50m (€57m) in the next 12 months.

Amicus said it enjoyed excellent support from its bankers, senior debt providers and active introducer network.

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Amicus Asset Finance carries out asset finance through hire purchase and leasing and secured business loans.

In 2015, short-term UK loan provider Amicus Finance acquired London-based brokerage Norton Folgate Capital Group, including Norton Folgate Capital Consulting. Amicus, previously known as Capital Bridging Finance, secured an initial stake of 75% in Norton Folgate Capital Consulting LLP, with the remaining 25% held by the incumbent partners.

Norton Folgate then rebranded to Amicus Asset Finance in December 2016, and appointed Jeremy Guilfoyle as its chief operating officer.

In December 2018, Amicus Finance Plc went into administration, following a failure to find an investor to fund and maintain the business, according to reports.

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Amicus Asset Finance returned to private ownership, with owner Keep saying that the business may rebrand in due course.

Amicus Asset Finance Group managing director Robert Keep said: “This further reinforces our commitment to the asset finance and business loan market following our return to private ownership. We look forward to a great year in 2019, with committed funding allowing us to support our SME customers. We have strong appetite to write transactions with SMEs in the value range of £50,000-2m”.

Founded in 1996, Norton Folgate’s ownership has changed hands and been developed several times since 2007. Originally sold by Robert Keep to General Capital in 2007, Norton Folgate was bought back by Keep in 2009. The business then grew into wider asset finance provision, before Keep set up the limited partnership in 2011. Norton then held a management equity stake buy-in in 2013, admitting five of his executive team into the partnership.