Pyramid Healthcare Inc, a portfolio company of Clearview Capital Fund II LP, closed the acquisition of Real Recovery of Asheville Inc. Terms weren’t disclosed. The deal is Pyramid’s fifth add-on acquisition under Fund II’s ownership and its second in North Carolina. Real Recovery, Asheville, North Carolina, provides living accommodations to help men ages 18 to 28 make the transition from substance-abuse recovery to independence. Also in Asheville, Pyramid operates OctoberRoad Inc, a provider of outpatient addiction and mental-health-treatment services. Clearview Capital LLC is headquartered in Old Greenwich, Connecticut.
Clearview Capital’s Pyramid Healthcare Gets Real Recovery Pyramid’s Fifth Add-On Acquisition
Old Greenwich, CT, April 15, 2016 – Clearview Capital Fund II, L.P. (“Fund II”) announced today that its portfolio company, Pyramid Healthcare, Inc. (“Pyramid”), has completed the acquisition of Real Recovery of Asheville, Inc. (“Real Recovery”). The transaction marks Pyramid’s fifth add-on acquisition under Fund II’s ownership and its second in North Carolina.
Located in Asheville, NC, Real Recovery provides sober living accommodations to facilitate the transition from substance abuse recovery to independence for young men ages 18-28.
Real Recovery will play a key role in Pyramid’s continuum of care by expanding on current service offerings in the North Carolina market. Asheville is already home to October Road, Inc., a member of the Pyramid Healthcare treatment family and provider of outpatient addiction and mental health treatment services.
“As we continue to build our system of care in North Carolina and elsewhere, Real Recovery will serve as an important new service environment that we hope to grow in Asheville and beyond,” said Jonathan Wolf, CEO of Pyramid.
“The acquisition of Real Recovery is a continuation of our strategy to augment Pyramid’s rapid organic growth with strategic acquisitions,” said Matt Blevins, Principal of Clearview Capital. “We expect to complete additional acquisitions in our core states of Pennsylvania, New Jersey and North Carolina as well as in new territories.”
Clearview Capital’s other holdings include Controlled Products, LLC, a manufacturer and distributor of high quality field and non-field synthetic turf surfaces; Advanced Medical Personnel Services, Inc., a provider of nationwide healthcare staffing solutions; Xcellence, Inc. d.b.a. Xact Data Discovery, a provider of discovery and data management services; Northwest Cosmetic Laboratories, LLC, a formulator and manufacturer of prestige skin care products; Novik, Inc., an innovator, manufacturer and distributor of polymer building products; St. Croix Hospice, LLC, a provider of high quality, palliative care for hospice patients; QC Supply, LLC, a leading wholesale distributor to the swine and poultry markets; GCR, Inc., a professional services firm delivering technology solutions to governmental and commercial clients; and Child Health Holdings, Inc. d.b.a. Pediatric Health Choice, the country’s largest provider of prescribed pediatric extended care (“PPEC”) centers for medically complex children.