May 4, 2012 – Clearview Capital today announced that its portfolio company, Pyramid Healthcare, has acquired October Road. The closing of the October Road transaction represents Pyramid’s second add-on acquisition under Clearview’s ownership, and marks Pyramid’s initial expansion outside of Pennsylvania. “This acquisition fits perfectly with our acquisition strategy, which seeks to extend Pyramid’s reach beyond Pennsylvania”, said Matthew Blevins, Vice President of Clearview. “We are actively seeking additional add-on opportunities in the behavioral health sector to complement Pyramid’s steady organic growth.”
October Road provides outpatient mental health and substance abuse services to adults and adolescents. The company is accredited by the Commission on Accreditation of Rehabilitation Facilities (“CARF”) and is designated a Critical Access Behavioral Health Agency (“CABHA”) in North Carolina. The company was founded in 2005 and is headquartered in Asheville, NC (www.octoberroadinc.com).
“We are excited about the acquisition of October Road,” said Jonathan Wolf, Pyramid’s Chief Executive Officer. “They provide effective, evidence-based services in key markets in North Carolina and we look forward to having them as the newest members of the growing Pyramid Healthcare network of behavioral health services.”
Pyramid Healthcare offers treatment and care to people who are dealing with alcohol and/or other drug addiction, mental health disorders and adolescent behavioral problems. Pyramid is headquartered in Altoona, PA with 26 treatment facilities and 574 employees throughout Pennsylvania. Facilities include residential drug and alcohol treatment for adults and adolescents, outpatient offices, therapeutic schools, methadone clinics, a group home and a school for autistic children (www.pyramidhealthcarepa.com).
Clearview Capital invests in mid-sized manufacturing and service companies that have cash flow between $4 million and $20 million (lower levels of cash flow are considered for add-on acquisitions). Clearview has in excess of $250 million under management and is currently making investments through its committed fund, Clearview Capital Fund II, LP. The firm is located in Old Greenwich, CT (www.ClearviewCap.com).