Clearview Capital announced Thursday that it invested in the outpatient behavioral health provider Advantage Behavioral Health.

Terms of the deal were not disclosed. Clearview Capital partnered with the organization’s founders and management team to recapitalize Advantage Behavioral Health in a deal that closed April 1. The deal brings “an experienced partner” and the capital needed to help the company grow.

“The mental health crisis has only deepened since the COVID-19 pandemic, and the Advantage team is committed to being part of the solution by helping to narrow the supply/demand gap in mental health care,” Engelhardt, Principal of Clearview Capital, said in a news release.

AJ Solomon and Brent Reese founded the company in 2017. Both are board members of Advantage Behavioral Health, with Solomon listed as executive chairman. CEO Colin Studwell will remain in that role, the release states.

Advantage Behavioral Health operates 21 locations in nine states and conducts about 500,000 patient visits annually in person and via telehealth. It provides adult and adolescent mental health services. For adults, it also offers addiction treatment and eating disorder treatment.

The company also operates a segment called Advantage Behavioral Health II, which provides back-office services for its mental health provider organizations. These services include billing, HR, marketing, accounting management operations and IT services.

Studwell said the deal will “further accelerate our growth trajectory.”

“Clearview has a proven history of success not just in healthcare services, but specifically in the behavioral health industry, while upholding a strong commitment to exceptional patient care — an ethos that closely aligns with our own patient-first approach,” Studwell said. 

This deal is the fourth platform deal from the $850-million Clearview Capital Fund V.

The company announced a little over a year ago that it would expand to New York, California and Arizona.

Advantage Behavioral Health Network has been acknowledged for its expansion efforts. Last year, it was ranked at No. 1,788 on the Inc. 5,000 list with 292% revenue growth for the three years ending in 2023.