(RMIF) has bought back some parts of the ReMIT training business
from the administrators of Carter & Carter Group, which
collapsed following the death of its founder and chief executive
Philip Carter in a helicopter crash in May 2007.
The RMIF said: “The administrators of Carter & Carter Group
plc have agreed to transfer the provision of non-manufacturer
apprenticeship programmes to the RMIF.
Go deeper with GlobalData
“The RMIF deal team has been working very closely with the
Carter & Carter Administrators, the Learning and Skills Council
(LSC) and other government training agencies to secure future
training provision for approximately 2,700 learners across England,
Scotland and Wales.”
The sale of ReMIT to Carter & Carter in May 2006 for £25.5m
helped to plug a hole in the RMIF’s pension fund, although chief
executive at the time, Matthew Carrington denied that the sale was
part of a fund-raising exercise.
The majority of Carter & Carter’s assets were sold by the
administrators, Deloitte, on March 20.
ReMIT reborn
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By GlobalDataThe RMIF announced that it has established a new company using
the old ReMIT name, with the support of the LSC, the SMMT and the
IMI. Rob Foulston, formerly head of Deutsche Bank’s distressed debt
business, has been appointed the new chief executive. RMIF finance
director Kevin Waterman and Carter & Carter operations director
Steve Yardley will also have roles in the new company.
Chairman of the RMIF, 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.”
Motor Finance Issue: 42 – April 08
by Jo Tacon ,
Published for the web: April 23 08 11:20
Last Updated: April 24 08 15:43
