Arctaris Impact Fund Buys Maine's Saddleback
Boston investment firm Arctaris Impact Fund completed a reported $6.5 million acquisition of Saddleback Mountain ski area from the Berry family on Friday afternoon.
The resort has been closed since 2015 when the Berrys couldn’t secure financing to replace the primary chairlift, and have been seeking new owners since. It’s been a tumultuous process, with prospective buyers coming forward only to abandon their acquisition efforts for a variety of reasons. The Berry family has said it invested $40 million into Saddleback for new snowmaking, a new lodge, and other infrastructure before closing the resort’s doors.