Four years after it closed, Maine’s third-largest ski area, Saddleback Mountain ski resort, finally has a new owner. The mountain is expected to reopen in 2020 under the ownership of Arctaris Impact Fund, a Boston investment company.

Maine’s eighth-highest mountain has an elevation of 4,120 feet and offers 2,000 feet of vertical skiing, along with some of the most challenging expert terrain in the Northeast. Arctaris is expected to invest in a new high-speed quad chair, new T-bar, updating of the base lodge and new snowmaking equipment. The opening is tentatively scheduled for early December 2020.