All 170 jobs at Nelson Distribution have been saved after it was acquired by Kinaxia Logistics.
The deal for the firm's trade and assets comes after its parent company KNP Logistics Group filed a notice to appoint an administrator on Friday, September 22.
Nelson Distribution, which is based in Belper, Derbyshire, merged with Knights of Old in 2016 and generated a turnover of £26.5m in the 12 months months to May 2022. It also posted a pre-tax profit of £965,510. Its latest set of accounts are not due to be published until February 2024.
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KNP Logistics Group comprises Knights of Old, Nelson Distribution and Steve Porter Transport. Kinaxia has stepped in to acquire Nelson Distribution’s 117-strong fleet, premises and customer base. All 170 Nelson Distribution staff are transferring to Kinaxia under TUPE arrangements.
Simon Hobbs, chief executive of Kinaxia, said: "We are pleased to have reached agreement to acquire the trading and assets of Nelson Distribution. It's a good business and an excellent fit for Kinaxia. We share the same values, and Nelson Distribution is based in a good strategic location for our group.
"We are pleased to welcome the entire Nelson workforce and customer base to the Kinaxia family of businesses, and look forward to working with them and continuing to provide their customers with the great service they have been used to."
Kinaxia is headquartered in Macclesfield, Cheshire, and employs more than 1,600 staff nationwide with a fleet of over 850 vehicles transporting goods for the retail, leisure, food and drink and manufacturing sectors.
In 2021, its revenue totalled £184.9m while it made a pre-tax profit of £3.2m. Its accounts for 2022 are due to be filed by the end of September.
