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Is this the first example of a Birmingham social enterprise merging with a national charity? We think it must be.
My Time CIC became a majority-owned subsidiary of the Richmond Fellowship on 1st April in a deal which saw the Richmond Fellowship taking a 76% stake in the company.
My Time provides services which help tackle depression, anxiety, low self-esteem and long-term mental health issues in the community. It will remain a company in its own right and continue to provide and manage its own services.
My Time has 35 staff and in 2012/13 posted an income of £696,000. The Richmond Fellowship has 886 staff and in the same period posted an income of £33.4m.
Michael Lilley and his colleagues at My Time are surely to be congratulated and we hope the sector in Birmingham — and beyond — recognises this for the historic news that it is.