Mirus Resort Capital Advises Wildcat Mountain on Sale to Peak Resorts
Mike Krongel has joined the partners of investment banking firm Mirus Capital Advisors to create Mirus Resort Capital, and has completed the firm’s first transaction in the Ski industry, advising Wildcat Mountain on the sale of its operations to Peak Resorts.
Mirus Resort Capital acted as sell-side advisor to the Franchi family in negotiating a transaction, now pending approval by the US Forest Service, for the sale of their interest in the operations of Wildcat Ski Area, Pinkham Notch, NH. Wildcat Mountain (www.skiwildcat.com) is an iconic New England resort that had its beginnings in 1933. Acquired by the Franchi family in 1986, Wildcat grew over the years to support 45 trails on 220 acres of U.S. Forest Service Land.
From 1996 through 2009, the shareholders made several attempts to find another operator to buy the resort without success. In August 2010, Mike Krongel was engaged by Pat Franchi to facilitate a sale. Mirus identified a very select group of investors and strategic buyers for the resort, and in a very short time an offer was generated that met the goals of the family. In October of 2010 the principals of Wildcat Mountain signed a purchase and sale agreement as well as a management contract that transferred immediate operational control to Peak Resorts of Wildwood, MO.
About Mike Krongel and Mirus Resort Capital:
Mike Krongel joins with the Mirus Capital Advisors partners in bringing years of operational expertise and transactional experience in service to the resort, recreation and hospitality sectors. Founded in 1987, Mirus Capital Advisors has a long and distinguished reputation as a middle market investment banking and advisory firm with a focus on family-owned and closely-held businesses.
Mirus Resort Capital (www.mirusresortcapital.com) advises business owners, investors, and management teams on the acquisition, sale, and recapitalization of cold weather resorts, day ski areas, golf resorts, and equipment suppliers to the resort industry. Our team develops the most appropriate execution strategy, structuring transactions to meet the unique objectives of our clients. With local market knowledge as well as an international investor reach, our senior investment bankers can access the leading public, private and institutional investors and lenders ? including traditional real estate investors as well as firms with a primary interest in operating companies.Back to Transactions