Mental health charity the Richmond Fellowship announces takeover of My Time CIC

Derek Caren, chief executive of the charity, said it had been seeking out formal partnerships with like-minded organisations

Derek Caren
Derek Caren

The mental health charity the Richmond Fellowship has taken control of the community mental health social enterprise My Time.

The midlands-based My Time, a community interest company, became a majority-owned subsidiary of the Richmond Fellowship on 1 April. Richmond Fellowship has taken a 76 per cent stake in My Time under the deal.

My Time, which helps to tackle depression, anxiety, low self-esteem and long-term mental health issues in the community, will remain a company in its own right and will continue to provide and manage its own services.

My Time employs 35 members of staff and had an income of £696,000 in 2012/13. The Richmond Fellowship has 886 employees and recorded an income of £33.4m over the same period.

A spokeswoman from the Richmond Fellowship said there would be no job losses and My Time’s chief executive and managing director would remain in position.

My Time will keep its offices in Birmingham and will continue to run all the services it is currently contracted to provide, said a Richmond Fellowship spokeswoman.

Derek Caren, chief executive of Richmond Fellowship, and Raj Lakhani, the charity’s director of finance and business development, will join the My Time board.

There will be no other structural changes to governance arrangements at either organisation, the spokeswoman said.

"We’re really excited about the potential innovation and community-based solutions that My Time can bring to the Richmond Fellowship," said Caren. "We’ve been proactively seeking out formal partnerships with like-minded, successful organisations to help us achieve our mission of making recovery reality for the thousands of people we support each year." 

Michael Lilley, chief executive at My Time, said that his organisation would "benefit from the financial strength provided by the much larger Richmond Fellowship."

He said that the philosophy of both organisations was closely aligned, "both being user-led."

"With the needs of service users right at the heart of everything we do, we believe we can build on our philosophy and our complementary services to continue to fully support individuals suffering with mental ill-health," he said.

The Richmond Fellowship last year absorbed the specialist housing charity the Croftlands Trust in November and acquired the County of Northampton Council on Addiction in October.

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