Saddleback Mountain closed for good after the 2014-15 season due to the need for costly repairs, upgrades and improvements. Since then it has sat dormant but now there is new life at the ski resort. With an elevation of 4,120 feet, Saddleback is one of the largest mountains in Maine.

The Berry family, current owners of Saddleback Mountain, have reached an agreement for sale of Saddleback Inc. and the Saddleback Land and Timber Corp to A Boston investment company, Boston.com reportsArctaris Impact Fund of Boston will re-open and operate the resort.

The company says they plan of having the resort up and running between Thanksgiving and Christmas of 2020 but there is a lot of renovations to tackle first. Andy Shepard, who will be Saddleback’s new general manager told Boston.com that the new owners intend to replace the old Rangeley Double chairlift with a modern quad lift, replace an aging T-bar, boost snow making and make improvements to the lodge.

This isn't the first talk of Saddleback being sold. The website says there were a handful of buyers who expressed serious interest over the past five years but only a couple had the resources to complete the purchase and run the business.