AUBURN – Not that it ever left, but Linc Hayes couldn’t conceal his excitement Friday when he declared that “Lost Valley is back.”

He, Diane Moreau and Connie King, all managers of what’s billed as “Maine’s biggest little ski area,” are now sole owners.

A purchase and sales agreement for the family-oriented, multiple-lift ski mountain and its associated facilities was signed Friday afternoon, transferring 64 percent of its shares to the trio from the estate of former owner Fern Pontbriand. The partnership previously held 36 percent of the shares.

The ski area’s fate had been in limbo for the past 11 months, Hayes said. Now, though, the deal is sealed and the partners are telling people to feel confident in booking weddings and anniversaries, corporate events and banquets.

“We’re in this for the long haul,” said Hayes, who has helped manage Lost Valley with Moreau and King for the past five years.

The new owners are eager to restore the Auburn institution to its former status as the area’s best place for families to have fun. Hayes said he remembers riding the T-bar with his children when they were little and seeing many more parents doing the same.

“We want to bring back the Lost Valley of old,” he said.

The trio will keep updating the physical facilities, including the stock of rental skis and other gear, but they’re looking for suggestions, too. The ski area has 15 trails with a vertical drop of 240 feet.

“We’re the caretakers, but we want the community to think of it as your place,” said Hayes.

The paintball court and mountain biking trails are open, as are places where people could hike or take a nature walk or enjoy a picnic.

But Hayes, Moreau and King want to know what else people might enjoy. A climbing wall? A ropes course? More snowboarding options? Expanding the Nordic trails?

“If you have ideas, please stop by,” said Hayes.

For years, folks have volunteered to help clear and maintain trails. The new owners are hoping that volunteerism continues and grows. Already, some families have expressed interest in improving the 3.6 miles of Nordic ski trails.

That’s important, they noted. Moreau said the new owners intend to keep Lost Valley’s family-friendly atmosphere, continuing such things as teen parties on Saturday evenings during the ski season.

They already have seen some success from their management efforts during the past five years. Hayes said only nine season passes were issued the year before he, Moreau and King joined the staff; now there are several hundred.

“This is such a nice community asset,” said Hayes. “We didn’t want to see it go.”