Knights of Old and Mainland set to merge
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KNIGHTS OF Old and Mainland Group are to merge, creating a group with an annual turnover approaching £50m.
Kettering-based Knights of Old will integrate Northampton-based Mainland into its operations, creating a Knights-branded group with 200 trucks, 225 trailers, 400 staff and 200,000ft2 of warehousing.
Ian Beattie, MD of Knights of Old, says: “We have combined resources that will help the group reach the next level.” Mainland MD Mike Bacon will assume the role of commercial director at the group, with Paul Abbott, operations director at Knights, becoming group logistics director. Knights will retain Mainland’s Northampton base as its ifth depot. Bacon says: “It’s a logical move that will create new opportunities.” Mainland Group made a pre-tax proit of £667,959 (2010: £311,824) in the year to 31 January from a turnover of £6.6m (£5.8m). Its sister company Mainland Express is included in the deal. It had a turnover of £7.6m (£6.5m) in the year ended 31 January and made a pre-tax proit of £717,356 (£328,778). Collective net debt stood at £4.9m.
Knights’ turnover in the year ended May 2010 was £26m with a pre-tax proit of £1.2m, although it says it has increased turnover since.
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