ACRO Global Tourism Marketer Articles: Arctaris closes on purchase of Saddleback Maine for $6.5M

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Arctaris closes on purchase of Saddleback Maine for $6.5M
By

David
10 February 2020 (Edited )

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Saddleback Maine

An Arctaris Impact Fund spokesperson said the investment firm plans to invest $38M in the ski area - which has been closed since the chair lift failed in 2015 -and reopen it by the end of 2020, with 200-240 employees.

The purchase has been funded in part by a $12.5M loan from FAME and a $1M loan from Maine Rural Development Authority.

Saddleback was at one time the biggest employer in Franklin County.

David H. Boggs

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ACRO Global
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