Lucky 3 - P3 completes three successful mergers in 2008

In defiance of the current down turn in the economic climate, P3 have successfully completed an impressive three merger processes in 2008 with like minded organisations. The first merger, completed in early 2008 with Kings Cross Homeless Project based in Tower Hamlets was a resounding success and led the way for more to follow.

Kilburn Youth Centre and Unique, a social enterprise based in Newark, Nottinghamshire completed merger proceedings with P3 in late 2008 and the benefits of the mergers are already being felt by staff teams at both projects and by P3 as a whole.

Martin Kinsella, Chief Executive of P3 and Social Enterprise Ambassador said:

"Mergers are often more associated with the private sector so it is exciting to see this kind of growth among social enterprises which people often assume are always small businesses. At a time when most businesses are worrying about the credit crunch, it's particularly exciting to be approaching a £7 million per annum turnover".

"Increasing our scale not only puts us in a stronger position to provide more services for the local community but it reassures local commissioners that we have the scale to deliver on big contracts. we are increasingly able to compete with the big private providers and this can only be a good thing. Because we have social aims at the heart of what we do we know we deliver more".

"P3 is thrilled to be growing through mergers with KYC and Unique. These two organisations have always put young people at the heart of what they have done and we know this growth expertise will help us to act on our belief that young people need somewhere to go, something to do and somebody to be with. We are all in the business of making that happen, and we will continue to work with the young people of Kilburn and Newark to develop the services they tell us they want and need".

Prior to merging with P3, KYC was the largest voluntary youth services provider in north west London, with a turnover of £650k last year. Founded in 2000, it has worked with over 8000 young people so far. providing a large programme of services to under 25's including advice and information, health projects, and accredited learning programmes.

Unique opened its doors in January 2000 as a youth charity, rapidly developing into a multi award winning social enterprise, employing 22 full time staff across two sites. Unique operates a diverse range of innovative social enterprises including a highly successful Alternative Education programme and drop-in youth Coffee Bar (an independent Youth Project which includes young people at the core of decision making). Unique Coffee Bar receives around 14,000 visits per year and many local people credit the centre with helping reduce anti-social behavior and improve community relations.

To read about what Third Sector magazine had to say out P3's mergers, click here.

For the press release related to this article, click here.

For press release enquiries please contact Luka Miklavc on 01895 462026, Out of hours – 07984 147511, email – luka.miklavc@p3charity.org