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RMIF completes buy-back of ReMIT apprentice training

The RMIF has bought back parts of ReMIT, the training company it sold for £25.5m to Carter & Carter in 2006. The deal, for Carter & Carter's apprentice learning division, was completed with its administrator, Deloitte.

The RMIF has not revealed how much it has paid for the business. It has established a new company, ReMIT Ltd, using the previous name, to take over running of Carter & Carter's former non-manufacturer apprenticeship programmes.

ReMIT's chief executive will be Rob Foulston, formerly managing director of Deutsche Bank's distressed debt business. The operation will also include former Carter & Carter operations director Steve Yardley, and RMIF finance director Kevin Waterman.

RMIF chairman Alec Murray said: "The RMIF decided to re-establish ReMIT because the provision of motor vehicle apprenticeships is so vital for the future of the retail motor sector. This was under threat following the collapse of Carter & Carter. More pressingly, there was a possibility that many current motor vehicle apprentices would be unable to complete their training.

"The name ReMIT has been revived because of its high recognition value, and we are now looking to stabilising the business and moving forward."

The ReMIT name had disappeared since its sale to Carter & Carter, which merged it with into its own apprenticeship business.

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