Peak Resorts, Inc. (NasdaqGM:SKIS) entered into a stock purchase agreement to acquire Hunter Mountain Ski Resorts from Paul Slutzky, Charles B. Slutzky, David Slutzky, Gary Slutzky and Carol Slutzky for $36.8 million on November 30, 2015. As per the terms of the deal, Peak Resorts will pay $35 million in cash and pay $1.8 million for two capital leases. The deal includes the acquisition of Hunter Mountain Ski Bowl, Inc., Hunter Mountain Festivals, Ltd., Hunter Mountain Rentals, Inc., Hunter Resort Vacations, Inc., Hunter Mountain Base Lodge, Inc., and Frosty Land, Inc. As on January 7, 2016, Peak Resorts funded the cash portion of the transaction with a $20 million first mortgage on the Hunter Mountain assets and $15 million drawn on the line of credit finalized on January 1, 2016.

The transaction reported a purchase price-EBITDA multiple of 6x and revenue of $27 million. The deal is subject to customary closing conditions. The deal will be terminated if not complete on or before February 1, 2016. Mike Krongel of Mirus Capital Advisors, Inc. acted as the financial advisor for Hunter Mountain Ski Resorts.


Peak Resorts, Inc. (NasdaqGM:SKIS) completed the acquisition of Hunter Mountain Ski Resorts from Paul Slutzky, Charles B. Slutzky, David Slutzky, Gary Slutzky and Carol Slutzky on January 6, 2016.