Pyramid Healthcare Acquires October Road, Inc.
Acquisition marks Pyramid's first expansion into new state
May 3, 2012 —Clearview Capital Fund II, LP today announced that its portfolio company, Pyramid Healthcare, Inc., has acquired October Road, Inc.
Headquartered in Asheville, NC, October Road provides a full continuum of outpatient mental health and substance abuse services to adults and adolescents using creative, evidence-based practices. Founded in 2005, October Road has achieved significant growth due largely to its experienced management team and the exceptional quality of care provided to its patients. 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 closing of the October Road transaction represents Pyramid’s second successful add-on acquisition under Clearview’s ownership, and marks Pyramid’s initial expansion outside the Commonwealth 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.”
“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.”
Based in Altoona, PA, Pyramid Healthcare is a leading provider of substance abuse and mental health treatment services to adults and adolescents throughout Pennsylvania. Pyramid operates 26 residential and outpatient treatment facilities throughout the Commonwealth.
Clearview's other holdings include GCR, Inc., a professional services firm delivering consulting services and technology solutions to governmental and commercial clients; Child Health Holdings, Inc., d.b.a. Pediatric Health Choice, the country’s largest operator of prescribed pediatric extended care centers; The Results Companies, LLC, a Business Process Outsourcing (“BPO”) provider of customer management solutions; All Tech Inspections Inc./IESCO, LLC, providers of inspection and non-destructive testing services to the refining, petrochemical market and other industrial process industries; Rowmark, LLC, a manufacturer and marketer of specialty plastic sheet and related products for the awards/recognition, engraving and signage markets; Air Cooled Exchangers, LLC, a manufacturer of air cooled heat exchangers used in natural gas compression applications; Senior Care Centers of America, Inc., the country’s largest operator of adult day care centers; Hillsdale Furniture, LLC, a designer and importer of wood and metal furniture; and a minority interest in Compression Polymers Group, the leading extruder of thick gauge polyolefin and PVC sheet, including AZEK® brand trim boards and decking products.
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