Barclays has piloted a partnership with two other UK
lenders to provide
a £45m (€57m) asset finance facility for energy meter firm Smart Metering Systems
(SMS).
The new facility, provided together
with Lloyds TSB and
Clydesdale Bank, will enable SMS to fund the purchase of meter
assets and
equipmentover the next two years.
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The deal was led by Andy Hall, head of Business Development
at Barclays, along
with Alan Riddell of the Business Development team, and Mark Lamb,
head of Asset Finance with Barclays Scotland.
Hall said: “We see this very much as the
start of the next phase of growth for the company and look forward
to supporting its current and future development.”
Alan Foy, chief executive of SMS, said he was delighted in the substantial
interest shown in
his company by the
UK banking community.
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