Pico Mountain acquired by American Skiing Company
American Skiing Company (ASC) has acquired Pico Mountain in Killington, VT out of bankruptcy for $5 million. Mike Krongel advised ASC on the transaction.
Billed as “the Little Mountain that Skis Big”, Pico has over 50 trails, nearly 2,000 feet of vertical drop, and about 75 percent snowmaking coverage. Pico operates Thursday through Monday and enjoys 100,000-150,000 skier visits per season.
Founded by Janet and Brad Mead, community-minded Pico is an integral part of Vermont’s skiing and racing history, a family owned area for much of its existence since that Thanksgiving morning in 1937 when a car engined chugged to life to run a 1,200-foot long rope tow. Old time Vermonters remember when a 19-year-old Andrea Mead Lawrence won a pair of gold medals in the 1952 Oslo Olympics. The daughter of Janet and Brad Mead, Lawrence got her start at Pico.
About Mirus Resort Capital:
Mirus Resort Capital provides investment banking solutions to corporate clients in the hospitality industry, specializing in cold weather resorts and ski areas, golf resorts, equipment manufacturing, and tour operations. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. For additional information, visit www.mirusresortcapital.com.Back to Transactions