Los Angeles, California – Avante Mezzanine Partners announced today that it has provided unitranche debt and an equity co-investment to support the acquisition of Community Psychiatry Management, LLC (“Community Psychiatry”) by New Harbor Capital. Headquartered in Sacramento, California, Community Psychiatry is a leading behavioral health practice management company supporting over 40 affiliated psychiatrists practicing in California’s Sacramento, San Joaquin and Bay Areas. The company’s affiliated physicians serve patients suffering from a range of behavioral health disorders. Community Psychiatry is the largest outpatient provider in the state of California and provides services through over 20 outpatient locations as well as via telepsychiatry appointments. For additional information, please visit www.communitypsychiatry.com.
“Avante was an excellent partner for Community Psychiatry,” said Ed Lhee, Partner of New Harbor. “They were very responsive and able to understand the business quickly, and we are pleased to have them as our lead lender.”
“This is our first investment with New Harbor and we couldn’t ask for a better partner,” said Ivelisse Simon, Partner of Avante. “We were impressed with the depth and breadth of knowledge of the New Harbor team and their collaborative transaction approach.”
“We think Community Psychiatry is a top-notch player in an industry with favorable trends,” said Dan Moss, Principal of Avante. “With the support of New Harbor working closely with the highly experienced management team, the company is well positioned for continued growth.”
Avante was joined in the financing by California Bank & Trust.