GREENWOOD (AP) – The Mt. Abram ski resort in western Maine has been sold to two local investors.

Matt Hancock and Rob Lally, who own homes near the resort, purchased it from Josh and Susan Burns of Falmouth. Terms of the sale, which was announced Friday, were not made public. Located near larger Sunday River ski resort in Newry, Mt. Abram is one of Maine’s smaller ski areas. It changed hands three times in the 1990s.

Hancock and Lally decided to go in together on Mt. Abram’s purchase after it was put on the market for $1.8 million earlier this year. The partners say it’s important to keep the resort’s ownership in the state.

Hancock was a principal owner of Hancock Lumber and Hancock Land in Maine before selling his share to his brother Kevin in 2006.