Nelson Distribution was profitable in final trading year before joining Knights of Old

Nelson Distribution
was profitable in its final year of trading before it became part of the Knights of Old Group, newly published accounts show.

The Belper-based business, owned at the time by the Nelson family, recorded a profit for the period 1 April to 31 May 2016 of £462,130. The average number of employees in the period was 76.

The accounts also showed that Kettering-based Knights of Old became the ultimate parent company of Nelson Distribution on 31 May 2016.

Ahead of the deal, described as a merger, ownership of the haulier was transferred from the Nelson family to NPM. On 28 May, ownership of Nelson Distribution was then transferred from NPM to NDL Holdings.

NDL’s directors are Knights logistics director Paul Abbott, its MD Ian Beattie and Simon Nelson.

Knights of Old subsequently became the parent company of NDL and ultimate parent company of Nelson Distribution.

The deal last year saw Simon Nelson join the Knights of Old board and retain his role as Nelson Distribution MD.

Nelson Distribution’s accounts show freehold property to the value of £1.6m was sold in the period too.

The accounts also state that on 26 May the beneficial interest in freehold property was transferred by means of special dividend to the company’s then parent company NPM. It added that the company was controlled at the time by the Nelson family.